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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.​


​Letter of Guarantee

Letter of Guarantee (LG) is a written undertaking issued by the National Commercial Bank upon its client request, payable at the first call for certain amount or it is subject to be fully assigned to the beneficiary during the letter of guarantee validity.

Letter of guarantee offered by The National Commercial Bank are:

  • Bid bond (tender) Guarantee
  • Final Guarantee
  • Performance Guarantee
  • Advance Payment Guarantee
  • Financial Guarantee
  • Custom Guarantee
  • Custom Guarantee
  • Zakat Guarantee
  • Haj & Omra Guarantee
  • Study Guarantee
  • License Guarantee

​About the service

This service allows The National Commercial Bank clients (establishments and Corporates) to apply for the letter of guarantee insistently and receive the original print out from the selected branch through AlAhlieCorp platform.

Service Condition

  • Client must subscribe to AlAhlieCorp (free of charge from here)
  • Client must provide 100% cash margin of guarantee value.
  • Guarantee must be issue in favor of a Government Beneficiary.
  • LG purpose must comply with the client activity (as per Commercial Registration).

Important Notes

  • No need to subscribe to AlahlieTrade to issue guarantee with 100% cash margin
  • Client must visit the selected branch to receive the printout.

Request to add Government Beneficiary to the list

In case of missing government beneficiary in the list, please contact us on the toll-free number 920024288 or Email contactus@alahli.com to add the beneficiary.

User Manual

 


​About the service

This service allows the beneficiaries to verify the validity of the guarantee that has been issued by The National Commercial Bank.

Verify from here