Performance Guarantee

Performance guarantees are issued to guarantee satisfactory completion of a project by a contractor. When the job is awarded to the winning bid, a performance bond will then be required as a security to the job completion.

This type of bank guarantee is issuing with below criteria

1. Prescribed Application from customer side for issuance of bank guarantee
2. Contract copy with beneficiary or Bid notification
3. Corporate valid license copy
4. Tazkira and Passport copy of President and V-president
5. 100% Cash Margin and bank commission. However, lower cash margins can be considered subject to provision of suitable collateral security and its assessment will be done on case to case basis.
6. Bank Guarantee is issued for any period which proposed or mentioned by customer in bank guarantee application form.
7. The bank guarantee only valid for the period which is mentioned in guarantee letter which are issued by bank.