Bid Guarantee means a monetary assurance given by a bidder and guaranteed by a bank which is used by assuring the Beneficiary as protection against Bidder Default or withdrawing the fund prior to the end of their bid validity period.
Issuance Criteria
- Application for Issuance of Bank Guarantee.
- Copy of Contract or Bid Condition Letter from Beneficiary.
- Copy of valid Business License.
- Copy of Tazkira or valid Passport involved in Business License.
- Copy of Articles of Association. (Asasnama).
Easily avail BMA's Bank Guarantees with simple Terms!
Related Topics
Retention Guarantee
Performance Guarantees
Advance Payment Guarantee
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