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Bank Guarantee

Bank Guarantees are issued by Banks on behalf of the clients against execution of supply order, performance and security bid.

Eligibility Any individual / firm / contract agencies holding valid business licence.
Purpose
  • Execution of Supply Order.
  • Performance guarantee.
  • Security Deposit / Earnest Money.
  • Fund Mobilization.
Validity Maximum of 12 months. However, it may be extended on request at bank’s discretion.
Margin Margin Money is insisted based on the risk associated with BG upto the extent of 10%, which may be parked in TDR @ 2% p.a. (Minimum 46 days)
Security Govt. / Personal guarantee(s), mortgage / hypothecation of fixed / other properties.
Commission @ Nu.2% p.a. (minimum Nu.500/-) on actual number of days plus Margin Money upto 25% only may be parked in TDR @ interest rate of 2% p.a. with loan facility. Margin Money above 25% can be parked in Current Deposit Account without interest.

  1. Below Nu. 10,000 million- Existing charges (2%p.a for bid security and 3% p.a for other types, for actual no. of days)-(Minimum of Nu. 500/- in both the cases)
  2.  Nu. 10,000 to less than Nu. 50,000 million-1.5%p.a a for actual no. of days against bid security/ Tenders (Minimum Nu. 16,667/-) 2% p.a  for actual no. of days against performance, fund mobilization, security deposit etc (Minimum of Nu. 25,000/-)
  3. Nu. 50,000 to less Nu. 100,000 million-1%p.a for actual no. of days against bid security/Tenders (Minimum Nu. 62,500/-) 1.5% p.a for actual no. of days against performance, fund mobilization, security deposit etc (Minimum Nu. 83,333/-)
  4. Nu. 100,000 million and above-0.5 % p.a for actual no. of days against bid security/ Tenders (Minimum Nu. 83,333/-) 0.75% p.a for actual no. of days against performance fund mobilization, security deposit etc- (Minimum Nu. 1,25,000/-)

 
Handling
Charges 		Nu.100/- per guarantee.

For further information, please contact our nearest branch or the Credit Department at Head Office, Phuentsholing.

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As on 21.05.2013
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