Guarantee is an irrevocable undertaking issued by the bank on behalf of its clients guaranteeing payment to third parties in the event of default by the customer. By providing a guarantee instead of upfront payment the client can retain his liquidity and also save on interest costs.

Types: Bid Bonds (Tender Bonds)
Performance Bonds
Advance Payment Guarantee
Retention Money Guarantee
Shipping Guarantee
Financial Guarantee

Tenor: Ordinarily for 12 Months but can vary on customer requirement.

Fees: 1.5% per annum for amount up to BD 50,000
0.75% per annum for amounts exceeding BD 50,000
Minimum BD 15.000
Terms & Conditions: Can Vary. Please refer to a detailed list or the Account Relationship Manager