In general, bank guarantees are required for contract works (Thekka/Patta), bidding tenders, supply of goods, credit purchase, receive advance payments, to obtain license/ agencies such as manpower agency and forex transactions, custom/exim code purpose, court purpose, and international bidding/ counter guarantees.
Yes, we issue every type of guarantees as per you requirement. Most commonly used are: - Bid Bonds, Performance Bonds, Advance Payments, Counter Guarantees and Supplier Credit/Payment Guarantees.
One can provide 100% to 125% cash margin along with required documents in the bank to issue guarantee or avail line of credit facilities. Our dedicated team from Credit Department shall guide you to establish Guarantee Limit Facilities.
Yes. But only for construction related companies (Nirma Byawasi/ Thekka Patta). Our dedicated Guarantee team shall guide you on this.
Yes. We do issue Joint Venture firm guarantees including international firm and local firm joint venture. Our dedicated Guarantee team shall guide you on this.
Following documents are required for guarantee issuance
No. Guarantees cannot be released prior to its expiry date. However, if the applicant can furnish the letter from the beneficiary itself or provide any document evidencing that the bid has been awarded to any other contracter/ bid has been cancelled/ or any other valid documents, we can release the bid guarantee.
Guarantee can be claimed from any branch of our bank. Claim lodged shall be settled within 7 working days. Our Guarantee team shall guide you on this.
Claim amount can be made through Manager’s cheque and through account credit of the beneficiary.
Yes, Bank can issue Credit commitment. Upon request of the applicant with the approval from the concerned department, credit commitment can be issued.