Performance Bank Guarantee Issuance

SME Development Bank can issue Performance Bank Guarantee on behalf of the customer once the contract / tender is won.

REQUIREMENTS
Application for Performance Bank Guarantee
Format of Bank Guarantee from relevant Authority / Government / Ministry
Authority to Debit Account
Cash Margin / Credit Facility against Collateral

Process
SME Development Bank customer will apply for Performance Bank Guarantee with format of the guarantee required by the relevant authority/ Government/ Ministry
Bank will check existing BG Limit / Create a Facility against Collateral / Deposit percent cash margin with SME Development Bank
Bank will check the contents of the Guarantee and issue the Bank Guarantee if the terms and conditions are acceptable
Upon expiry of the Bank Guarantee the original Performance Bank Guarantee to be returned to the counter of SME Development Bank for release of cash margin or the collateral.

RATES AND FEES (SUBJECT TO CHANGES)

  • Pre-arranged fees & charges
  • Other similar Bank Guarantee services
  • Issuance of Performance Bank Guarantee from overseas against Counter Guarantee from Correspondent Banks