Bank Guarantee

Overview

CBD’s Bank guarantee allows you to secure contracts with suppliers, customers and others without having to find cash up front allowing you to free up your business funds for other purposes.

CBD offers a wide choice of bank guarantees depending on your business needs. Our Business Banking specialists will be pleased to provide further advice and guidance.

Features and Benefits

• Satisfy the requirements of suppliers and customers without having to lodge cash for payment security deposits, bonds or retention payments
• Lock-in contracts quickly through the rapid issuance of cash-covered guarantees
• Earn interest on cash that would otherwise have been spent as a deposit by using a cash-covered bank guarantee
• Negotiate better terms by giving the other party the confidence that their payment is secure

Fees and Charges

Required Documents

• National ID or valid passport with UAE residence visa and Emirates ID of all signing authorities and shareholders, if applicable
• Valid legal and constituative documents (i.e. Trade Licence, Certificate of Commercial Registration, Freezone Certificate of Incorporation, Memorandum of Association, Partnership Agreement) as applicable
• Power of Attorney or Board Resolution, if applicable
• Proof of Address
• Details of Ultimate Beneficial Owners
• Bank Reference Letter and Compay Profile, if applicable
• Audited financial statements