Are you a supplier tendering for a job which requires a Bid Bond from a reputable financial institution which requires a security? Talk to us for cash free bid bonds issued within an hour by a reputable commercial bank.
Bid Bonds are sought by many organizations to provide financial undertaking if, for any reason, a successful tenderer fails to proceed with an awarded contract.
Most bidders are required to prepare a bid bond which is usually a percentage of the bid price during the tendering process. A bid bond could run into a significant huge amount which could end up tying down considerable percentage of the limited working capital for the business.
In view of the above, Prudent Capital has partnered with reputable financial institutions which issue cash free bid bonds to suppliers on its behalf, at competitive commission rates.
This is an undertaking by a bank to pay a beneficiary a certain amount of money if the applicant fails to perform a contract as per the agreement between the applicant and the beneficiary.
First-time applicant: Company/Enterprise registration documents, PIN for comp & directors, tax compliance, Award Letter, Bank statements if banking elsewhere, a copy of collateral to cover same (Bank is flexible) Repeat applicant: Award letter, collateral to cover and application.
However, Performance Bond of amount above Ksh.5m Bank may require more documents like Financials.
This is an undertaking by a bank to the procuring entity guaranteeing that the contractor can be paid an advance payment to perform the contractual obligation as per the agreement between the contractor and the procuring entity.
Within a period of 24hrs you get the letter of offer, however the issuance of the guarantee depends on the collateral offered; If collateral is the cash being advanced, the APG is issued immediately upon signing the offer letter.
If collateral is tangible asset like title deed the APG will be issued upon legal charge i.e. within 3- 4 weeks; for motor vehicle issuance is done within a day after signing the offer letter, and for shares within 2 days.
Just an application, Award Letter, company registration documents, a list of previously performed jobs & Bank statements.
For amount above Ksh5m additional documents like Audited books, Cashflows, Company Profile.
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