Performance Bond

INTRODUCTION

Performance Bond is the third party guarantor submitted to a principal (client or customer) by a contractor on winning a bid.

The bank facilitates the PERFORMANCE BOND by ensuring the sum (not exceeding a stated maximum) of money in case the contractor fails in the full performance of the contract as per the registration document , collateral etc.

FEATURES

  • Fair interest rate and service charge
  • Flexible Loan Tenure
  • Prompt Processing

REQUIREMENTS

  • Copy of Citizenship
  • PP size photograph
  • Valuation report from Bank's approved valuers
  • Certified source of income
  • Income Statement
  • Registration document at the conerned Nepal Government Office and Tax Office
  • Partnership Deed(for partnership firm)
  • Board Resolution(if private limited and institutions)