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Letter of Guarantee

Letter of Guarantee

Bank Guarantee

Is an irrevocable written promise and undertaking that is unrestricted by conditions issued by the bank in favor of the beneficiary under an agreement providing for a fixed amount and maturity in favor of the beneficiary and at the request of the client


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Types of banks guarantees



Bid Bonds:

To ensure the seriousness of the offer to participate in government and non-governmental tenders and auctions and to ensure that the bidder's financial position is adequate.


Performance Bonds:

Issued for the purpose of ensuring the execution of works and associations. The Client shall refund this warranty if the required is implemented as agreed.


Financial Guarantee:

Issued as an obligation of the Bank to guarantee the customer to the beneficiary of the letter of guarantee in order to determine his ability to implement the agreed terms.


Advanced Payment Guarantee:

Issued in favor of the owner of the project for the purpose of securing the recovery of the value of the advance in the event of non-compliance with the agreed terms and conditions.


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Features:


  • Bank Albilad provides you with prompt issuance of all bank guarantees to help you meet your deadlines.

  • Bank Albilad assists you with the issuance of all bank guarantees to or from your local and international business partners through our network.

  • We issue all forms of guarantees in full compliance with Shariah requirements 




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All Rights Reserved © 2024 Bank Albilad is a Saudi joint stock company, with National Unified No. 7001473102, Head Office: Al Mutamarat 8229, Building No 2, RIYADH 3952 - 12711, KSA. Under monitoring and supervision of Saudi Central Bank and licensed by Royal decree 48/M on 1425/9/21H (4/11/2004 G).


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