A Guarantee is a written undertaking issued by a bank in favour of the receiver of the goods or services, whereby it pledges to make certain payments on behalf of its client if the latter fails to make a payment or to carry out specific functions in terms of the commercial contract.

Features and benefits

Guarantees provide comfort to receiver of goods or services that payment will be made if the terms of the Guarantee are met.

How to apply

The buyer should complete an application form and provide security acceptable to the bank as may be negotiated & agreed.

Documentation required

Application form or letter.