Guarantees

Family Bank undertakes to pay, on behalf of the customer, a stated sum to the beneficiary, should the customer fail to perform a contract.

Bid Bonds

This is guarantee covers the procuring entity’s expenses in case when a participant revokes its bid or does not accept the offer.

Performance Bonds

This is a surety bond issued by a bank to guarantee satisfactory completion of a project by a contractor.

Advance Payment

Guarantees that the advance payment will be returned to the procuring entity if the contractor does not fulfil its obligations on delivery of goods or services.

Payment Guarantees

Payment Guarantee provides the beneficiary with financial security should the applicant fail to make payment for the goods or services supplied.

Customs Bond

Customs bond is issued to Customs Department in lieu of payment of duty; a contract used for guaranteeing that a specific obligation will be fulfilled between customs and an importer for any given import transaction.

Third Party Bond

Trade line solution tailor made to suit SACCOs, MFIs and other Non-Financial Institutions for on lending to their members/clients who are tenderpreneurs.