Enables to obtain an advance payment on commencement of the manufacturing of goods or performance as per the contract.
Facilitates import and export trade.
Widely used by traders and contractors.
Provide an opportunity to the buyer / employer to recover the advance payment made under the contract if the seller / contractor fail to fulfill its contractual obligations.
Beneficiary is entitled to claim under the guarantee in case of non-fulfillment of agreement.
Terms & conditions apply
Product information and terms & conditions are subject to change from time to time.
Therefore, it is advisable to contact the Bank for the latest information and prevailing terms & conditions.