AlAhli Letter of Guarantee
Our ability to customize product offerings in accordance with local responsiveness.
Bank Guarantees are the most
important instruments for protecting companies against non-performance
of underlying contracts or to ensure other party's ability to meet its
financial obligations.
Guarantees can be used for the following purposes:
- To safeguard against submitting inadequate tenders
- To reinforce the contractual relationship between buyer and seller
- To secure advance payment
- To ensure that contractual obligation are met on time
- As back-up security
The most commonly sought types of Guarantees are:
- Tender Guarantee - Bid Bonds
are designed to ensure that companies tendering for a projects provide a
performance bond. It is an alternative when cash deposits are a
required tender condition.
- Performance Guarantees ensure that goods are delivered and services rendered in accordance with the terms of the contract.
- Advance Payment Guarantees ensure that advance payments are in accordance with the terms of the contract.
NCB's Trade Specialists will
advise you on the most appropriate Letter of Guarantee ensuring that the
structure and text meet your business requirements.
