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.
|
Handling
Charges |
Nu.100/- per guarantee.
|
For further information, please contact our nearest
branch or the Credit Department at Head Office, Phuentsholing.
