This is an undertaking by FAMILY BANK to pay the beneficially a stated sum should the third party fail to perform as per the terms of the contract.

*Requirements for applying for a Guarantee: -      

• A guarantee facility or cash margin.
• Customer’s letter of request.
• The banks counter indemnity form
• A format of the guarantee (not mandatory).

•  Should be for a stated amount.
•  Should have a claim clause.
•  Should have an expiry event.
•  Should be for a stated period

• Bid bond or Tender bonds.
• Performance guarantee.
• Advance payment guarantee.
• Payment Guarantee
• Facility Guarantee (to secure a credit line)
• Government bonds: - Custom bonds, Warehousing bonds, Immigration bonds etc.
• We also have the capacity and expertise to issue other forms of guarantees depending on the requirements of our customers.