Trade Finance

We offer trade finance products including: Bid bond, performance bonds Advance payments guarantees, LPO Financing, Cheque discounting and letter of Credit.

Bid Bonds

A bid bond is a written guaranty from a third party guarantor (usually a bank or an insurance company) submitted to a principal (client or customer) by a contractor (bidder) with a bid.

A bid bond ensures that on acceptance of a bid by the customer the contractor will proceed with the contract and will replace the bid bond with a performance bond.
Features

  • Cash free bid bonds
  • Application form with details of the bond
  • Processing within 3 hours.

Performance Guarantees

A performance bond, also known as a contract bond, is a surety bond issued by an insurance company or a bank to guarantee satisfactory completion of a project by a contractor. A job requiring a payment and performance bond will usually require a bid bond.

 

Features

  • Application form
  • Company profile with previous jobs undertaken
  • Cash cover required with acceptable collateral.

Advance Payment Guarantee

This refers to a Guarantee supplied by a party receiving an advance payment to the party advancing the payment. It provides that the advanced sum will be returned if the agreement under which the advance was made cannot be fulfilled.
Features

  • Application form
  • Company profile with previous jobs done.
  • Acceptable collateral upon approval.
how can we help you?

Contact us at Baraka credit offices Geomarc Ongata Rongai or submit a loan inquiry online.

With Baraka Credit you can now apply online for bid/performance bonds!

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