Loan/Debt

Opportunity Bank – Bank Guarantee

Posted 6 months ago

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