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Letter of guarantee

Letter of guarantee

A reliable commitment

What are you waiting for? Secure your local and international business operations, maintain confidence with your business partners and access easily new foreign markets with the Letter of guarantee issued by SGBJ.

Why is it important for your activity?

  • To cover the risk of non payment of the buyer
  • To enhance your company’s image
  • To facilitate your access to export markets

Several types guarantees for an optimal protection

  • Contractual guarantees
    • Bid bond guarantee: Allows the supplier to participate in local or international bids and guarantees the buyer truthfulness and seriousness of the bids
    • Advance payment guarantee: Guarantees the buyer that his deposit was well used for its specified transaction or project purposes
    • Performance bond: Ensures a compensation to the buyer if the supplier does not respect the good execution of the project's contract
    • Retention guarantee: Ensures the buyer the refund of part of his payment in case the delivered material or completed work appears to the use, during warranty period, of poor quality
  • Unconditional guarantees
    • Credit guarantee, judicial guarantee and payment default guarantee

How to benefit from this service?

Visit any SGBJ branch to sign an application of issuance for a Letter of guarantee which includes the following information:
  • Originator's name and possibly for whom the guarantee is provided
  • Name of local or foreigner beneficiary
  • Amount of the guarantee
  • Maturity of the guarantee
  • The objective of the guarantee (or its type) and the initial contract reference