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Unsecured Bid Bonds

For construction jobs or projects with similar processes. Ensure that your contractors comply with bid contracts and fulfil their job through NCBA Bank’s unsecured bonds. Our bid bonds will provide the beneficiary with a guarantee or compensation in the event that: The bidder withdraws their offer before the expiry date. The bidder refuses to sign

For construction jobs or projects with similar processes. Ensure that your contractors comply with bid contracts and fulfil their job through NCBA Bank’s unsecured bonds.
Our bid bonds will provide the beneficiary with a guarantee or compensation in the event that:

  • The bidder withdraws their offer before the expiry date.
  • The bidder refuses to sign the contract after it is awarded.
  • The bid bond is not replaced with a performance bond after the contract has been awarded.

Features

  • Compensation on amount of RWF 50Mln per Bid Bond and RWF 2 Billion per customer.
  • Repayment periods of up to 360 days subject to tender provisions.