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Bank Guarantee

This ensures the payment will be made as long as the services are performed. A bank guarantee, like a line of credit, guarantees is an undertaking to the beneficiary for a definite payment upon revoke. Unlike a line of credit, the sum is only paid if the opposing party fulfills the stipulated obligations under the contract.

Note: T bank issues the following kinds of financial guarantees:

  • Bid security guarantee
  • Performance guarantee/ Mobilization advance
  • Guarantee to withdraw retention money against a contract

  • An individual’s /firm/ contractor agencies holding valid business license.
  • Anyone one who can provide 100% cash margin money or having sufficient collateral charged with T Bank or counter guaranteed by our relationship bank.

2%

As per security backed/provided and counter guarantees provided.

  • Within Bhutan-12 months or renewals basis
  • Outside Bhutan- Counter Guarantee from international banks, will be as per their client’s request.

  • Bank guarantee application form.
  • Counter guarantee form.
  • Valid license copy.
  • Identity card copy.
  • Invitation of BID details/letter of work awarded details/ contract agreement details.
  • For inward BGs (bank guarantees) for and behalf of outside parties counter guarantee from accepted banks.

Download Bank Guarantee Application Form      

Download Counter Guarantee Application Form

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