Guarantee Facilities
A letter of guarantee issued by a bank is a written promise by the bank to compensate (pay a sum of money) to the beneficiary (local or foreign) in the event that the obligor fails to honor its obligations in accordance with the terms and conditions of the guarantee agreement/contract. Gadaa Bank offers the following bank guarantees to its esteemed customers.
Features and Benefits
- Bid Bond Guarantee
- Performance Bond Guarantee
- Advance Payment Guarantee
- Suppliers’ Credit Guarantee /Trade Credit Guarantee/
- Retention Payment Guarantee
- Customs Duty/Bond Guarantee
- Overseas Foreign Employment Agency Guarantee
- Line of Credit Facility
- Foreign Bank Guarantee
- L/G for International Air Transport Association and Oil Companies
- Steamers’ Guarantee /Letters of Indemnity for Missing Documents
- Other forms of Guarantees