An undertaking, given upon request to pay a third party a specified sum of money as a guarantee against non-observance of the terms of an agreement.
COGEBANQUE offers bank guarantees in the form of bid guarantees, performance guarantees and advance payment guarantees.
Our business support to our customers regarding their tender or contract bidding process is highlighted through the issue of the bid guarantee providing the necessary security to the contract sponsor about the full commitment of our customer to enter into awarded contract.
The satisfactory completion of the awarded project by our customer as the project contractor is backed by the performance guarantee as the security given to the contract sponsor about the successful performance of the awarded project.
Issued to a beneficiary as a guarantee, at the request of the contractor/supplier should the latter misuse the advance payment granted to him to begin the work according to the contract.