A bank guarantee enables the customer to acquire goods, buy equipment expand business activity and provides additional working capital. A Bank Guarantee is a written irrevocable undertaking issued by the Bank to pay the beneficiary on demand if the customer (applicant) has not fulfilled their contractual obligations. It has a number of advantages it can provide to both international and local businesses to enable you tender for business which you might have previously considered out of reach, it can improve the terms of your tenders and help you negotiate better terms on contracts.
At First Capital Bank we offer a wide range of solutions at the most competitive terms, tender guarantees (bid bonds), performance and payment guarantees, customs guarantees, Advance payment guarantees, shipping guarantees etc.
- The creditworthiness of the region’s largest bank by capital and assets substituted for that of the client.
- Client obtains credit hence easing any liquidity constraints (First Capital Bank guarantee can be a substitute for cash deposit)
- Immediate compensation in case of default by primary obligor (applicant)