Bid Bond Guarantee Issuance

SME Development Bank provide services for Bid Bond 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
SME Development 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 SME Development 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 SME Development Bank for the release of cash margin or the collateral

Rates and Fees (Subject to Changes)
Pre-arranged fees & charges