Bank Guarantees & Bonds

Key Features

• Bid bonds and tender securities
• Performance bonds
• Advance payment guarantees (APG)
• Customs bonds
• Issued and confirmed via SWIFT where required

Benefits

• Qualify for government and institutional tenders
• Receive advance payments from contracting authorities

Requirements

• Active Equity account
• KYC documentation – certificate of registration/incorporation or establishing Act/Gazette notice, KRA PIN, and IDs/KRA PINs of signatories
• Board/Council resolution authorising the account or facility and appointing signatories
• Tender/contract document and guarantee format
• Cash cover or approved credit limit and security

Transaction Process

• Application
• Credit review & Approval
• Security/ Cash cover
• Issuance
• Monitoring
• Cancellation/return