Bank Guarantee (BG for short) is a payment guarantee provided by the Bank at the request of its Customers, to any of the insured in the event the Customer is guaranteed not to meet its obligations to the insured party.

BG is a non-fund facilities (Non Funded Facility) of the Bank based on contract Kafalah Ujrah bil. BG Bank will publish a certain number of values ??required by the receiving party assurance that a client / business partner / customer counter part of the Bank for the benefit of the transaction / specific projects that will be executed by the Customer Bank.

And wide use of Bank Guarantee

1. Given to the contractor or contractors for the project
2. Given to ensure payment (either Standby L / C)

While the Bank Guarantees are commonly used in the context of the project, to support the construction business, are:

1. Bid Bond / Tender Bond or warranty as to bid
2. Advance Payment Bond or deposit guarantee
3. Performance Bond or performance bonds during construction

Bank Guarantee products we can provide are:

1. Bid Bond / Tender Bond, issued to the bidders need to participate in the tender in the country
2. Advance Payment Bond or advance payment guarantee, issued to the needs of the work in order to ensure the execution of the work after receipt of advance payment from the project owner
3. Performance Bond, issued to the needs of the work in order to ensure the completion of projects that received or for the benefit of the buyer to secure payment for goods that have been received
4. Retention Bond, published for the needs of the applicant to ensure the maintenance projects that have been completed