Advance Payment Guarantee is a type of bank guarantee which ensures that Advance Payments will be returned if the Party that received such payments does not perform its part of the contract. These guarantees are issued to mobilize a contract.

Issuance Criteria

• Prescribed Application from Customer side for issuance of Bank Guarantee.
• Copy of Contract with Beneficiary or Bid notification.
• Copy of valid Corporate License.
• Copy of Tazkira or valid Passport.
• 100% Cash Margin and bank commission. However, lower cash margins can be considered subject to the provision of suitable collateral security and its assessment will be done on case-by-case basis.
• Bank Guarantee is issued for any period proposed or mentioned by the Customer in Bank Guarantee Application Form.
• The bank guarantee is only valid for the period mentioned in Guarantee Letter issued by Bank.