An advance payment guarantee is used when the contract provides for advance payment to be made to the supplier or contractor and guarantees that the payment advanced will be returned to the buyer if the contractor does not fulfill its obligations on delivery of goods and services.
Features
- Copy of the awarded contract required.
- Application of surety
- A certain % of contract value required as Performance Guarantee
- Security is required to support the facility
- Once-off Issuance fee charged
Requirements
For more information to help us to assist you, please contact your Relationship Manager or email us at botswanabanking@accessbankplc.com
