Bid Guarantees

This type of Bank Guarantee, Bid Guarantees, is issued with the following criteria:

Prescribed Application from Customer side for issuance of Bank Guarantee.
Contract copy along 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 provision of suitable collateral security and its assessment will be done on case-by-case basis.
Bank Guarantee is issued for any period which proposed or mentioned by the Customer in Bank Guarantee Application Form.
The bank guarantee is only valid for the period which is mentioned in Guarantee Letter issued by the Bank.