Trade facilities offered are Letters of Credit, guarantees and bid bonds.
Guarantees by bank – performance/ bid bonds and other guarantees issued to 3rd parties on behalf of the business.
Documents to be attached:
1. Indemnity Form
2. Application for Guarantee
3. Mandate for cash collateral
4. Format for guarantee
5. Tender validity period
Letters of Credit
Letters of credit facilitate the business’ import/export requirements in respect of raw materials, vehicles, plant and equipment.
The bank accepts a cash margin of 30% to issue Bid Bonds to 3rd parties.