Bank guarantee is a guarantee from a lending institution ensuring the liabilities of a debtor will be met. In other words, if the debtor fails to settle a debt, the bank covers it. It also helps contractors and vendors whose performance is always asked by buyers and clients to be assured. In event of the vendor assuring the performance with liquid instruments, their cash flow gets stuck.
BCSPL advices its clients to issue a performance BG to such buyers and clients issued by leading Financial institutions and Banks. BCSPL also helps its clients to avail Bank Guarantee to raise advance from their buyers and clients.
FEATURES AND BENEFITS
- No Pre-Payment penalty.
- Eligibility on projected Turnover.
- No vintage required (Age of the firm can be less than 1 year).
- No interest charged.
- Only opening charges applicable.