Bond and Guarantees

Bond and Guarantees are legal instruments or undertakings given by the bank to support our customers’ obligations to fulfill their contractual commitments.

Features

  • Commission: 2% Flat Rate.
  • Sealing Fee: ZMW120
  • Tenor: 365 days
  • Collateral: 100% cash Cover
  • Repayment: Contract performance/discharge

Benefits

  • Enhances Contract employer’s confidence in the contractor

Requirements

  • Clients have to be suppliers of Service providers of one or more of the Bank’s approved Counter parties
  • Brief Business Profile
  • Credit Facility Application Letter
  • Audited Accounts for the last three years
  • Latest Management accounts if audit Accounts older than six months
  • Budget/Cash Flow projections for the duration of the facility as well as underlying assumptions
  • Aged Debtors and Creditors Analysis
  • Description of Property being pledged as collateral as well as approximate value
  • If to be secured through third party mortgage, attach consent documents for the use of the security
  • Bank Statements for the last 12 months if not a UBA customer
  • Brief Profiles of Directors and Top 4 Key Management Staff
  • Board Resolution to Borrow

FAQs

  • How long does it take to Process the facility?
    14 days, with all documents and required information in place)