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Bank Guarantees

Bank Guarantee is any undertaking issued by a bank on behaff of its client (the applicant) to compensate the named beneficiary in the event of applicant's failure to honor his obligation within the terms and condition of the guarantee.

1. Charges*

  •  
    		•  Commission 0.15% per month (USD 50)
  •  
    		•  Amendment USD 20

    * Bank Charge for large amount are subject to arrangement.

    2. Type of Guarantees Issued by CAB

  •  
    		•  Bid Guarantee
  •  
    		•  Performance Guarantee
  •  
    		•  Advance Payment Guarantee
  •  
    		•  Payment Guarantee

    3. Benefits
  •  
    		•
    It gives credence to the business capability and worthiness of contracting party.
  •  
    		•  It provides security and fairness to underlying contracts or agreement.
  •  
    		•  it ensures availability of funds for the beneficiary in case of any legitimate claim against the contractor.
     

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