Loan/Debt
Opportunity Bank – Bank Guarantee
Description
Bank guarantees are written irrevocable undertakings issued by the Bank to pay the beneficiary a specific sum of money on demand in the event that its customer/applicant has not fulfilled his/her contractual obligation within the validity of the guarantee.
The Bank guarantees include; Bid security/Bid bonds Performance guarantees, Advance payment guarantee , Retention guarantees , Supplier Guarantees
Funding Procedure
Requirements:
Completed Bank Guarantee application form
Financial card
Possession of relevant business experience
For Bid guarantees above the unsecured limit of UShs 200 million, Security cover of up to 70% in the form of cash or mortgage on property.
For other types of guarantees, requirements similar to commercial loans
Depending on the customer, any combination of the following will also be require:
(a) Identification documents of the Directors
(b) Memorandum and articles of association
(c) Certificate of registration
(d) Company profile
(e) Borrowing resolution for the unsecured limit or secured limit
(f) Statement of bank accounts – 12 months
Contacts
Tel: 0800 306 306 (Toll Free) ...+256 754 680 049
Email: customerservice@opportunitybank.co.ug
ADDITIONAL FMC INFO
Benefits:
Denominated in both local and foreign currency
Non fund based facility
For Bid Bonds/Securities - Maximum unsecured limit of Ugx Shs. 200 million 50%
Security cover for bid bonds/securities amounts above Ugx Shs. 200 million
Attracts fees and commission as per tariff