What is Bid Bonds & Guarantees?
Are you considering a bid for your next big project? Faulu’s Bid Bond offering also assures them that you will meet your end of the bargain and in the agreed period of time. Signed a business contract where a guarantee is needed? Faulu Bank has your back. We’ll issue an irrevocable undertaking that you’ll fulfil your obligation as per the contract terms and conditions.
The facilities are ideal for business clients in supplies and contracting business with Governments, Parastatals, Private Entities, Distributors to:
- Facilitation of smooth business flow
- To expand business opportunities
- Help customers manage their business risks
- Help customers manage their supply chain
- The loan is aimed at business clients in supplies and contracting business with Governments, Parastatals, Private Entities, Distributors
- You can get a loan amount of:
- 1. Bid Bonds (5-10% of Project Cost): You can get up to Kes 15M and unsecured up to Kes 5M subject to ability
- 2. Bank Guarantees/ Performance Bond: You can get up to 150M
- Secured by cash or conventional security forming an aggregate of 100% subject to credit appraisal
- Secured by cash or conventional security forming an aggregate of 100% subject to credit appraisal
- Secured by cash or conventional security forming an aggregate of 100% subject to credit appraisal
Bid bond above Kes 5M
Bank Guarantees
Performance Bond