Guarantees & Bid Bonds
The facility is meant to provide bank guarantees or bonds as surety to third parties that may be dealing with the Borrower. For instance, the borrower may be participating in a tender to provide goods or services and the awarder of the tender may require surety in the form of a bid bond or a performance bond.
- Company Profile
- Proposed security: Shareholder / Director’s guarantees / Title Deeds
- Statement of net worth for the directors (estimated values for Personal Assets and Liabilities.)
- Company Resolution to borrow (authorizing nominated company directors to borrow on behalf of the company).)
- Memorandum & Articles of Association (copy).
- Certificate of Incorporation and or Business Operating License (copy).
- Bank Statements for the recent past 6 months.
- The format of the guarantee - as prescribed by the beneficiary
- The Bond Document – stating the terms and conditions required by the Off taker
- Copies of Supplier Invoices for Goods to be delivered
- Facility Application letter on Corporate Letterhead stating the nature/type and amount of facilities being sought.
- Tax Clearance Certificate (Current)
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