Bid Bond / Tender Guarantee Issuance

Bid Bond / Tender Guarantee Issuance

CB Bank provides services for Bid Bond or Tender Guarantee for the Exporters or Contractors

REQUIREMENTS

  • Application for Bid Bond

  • Format of Bank Guarantee from Relevant Authority / Government / Ministry

  • Authority to Debit Account

  • Cash Margin / Credit Facility for Guarantee
Process

  • CB Bank customer will apply for Bid Bond or Guarantee with the format of Bid Bond as required by the relevant Authority/ Government/ Ministry

  • Bank will check existing BG Limit / create a facility against collateral /deposit of cash margin with CB Bank

  • Bank will check the contents of the Bid Security and issue the Bank Guarantee if the terms and conditions are acceptable

  • Upon expiry of the Bank Guarantee/ completion of contract the original Bid Bond to be returned to the counter of CB Bank for the release of cash margin or the collateral
RATES AND FEES (SUBJECT TO CHANGES)

Pre-arranged fees & charges