Issuing of financial guarantees
Do you need to underwrite your obligations under public or private procurement contracts?
Do you wish to avoid using shareholders' equity to underwrite your contractual obligations?
BIL will commit itself and will provide, subject to approval of your application, a solid financial guarantee in a number of situations(including but not limited to):
- Payment guarantees for your business partners.
- Performance bonds as part of public or private procurement contracts. This solution gives the prime contractor access to the funds needed for the proper completion of the work in the event of the company defaulting.
- Guarantee of refund of deposit. It allows the prime contractor to obtain a refund of deposits paid to the company in the event of non-performance of the contract.
- Customs guarantee.
- Guarantee of release in favour of a client.
To find out more, please get in touch with your BIL Relationship Manager.
