Kingdom Bank

Performance Guarantee

We issue surety bonds to guarantee satisfactory completion of a project by a contractor in accordance with the terms and conditions of the contract.

Level up your business with Kingdom Bank.

Trade Finance Products
Bid Bond, Performance Guarantee, Advance payment guarantee, Letters of Credit/Documentary Credit, Documentary Collection & Clean Collection
Get in touch with us?
Talk to us on mobile 0709 881 300 SMS/WhatsApp on 0703112779 Email: info@kingdombankltd.co.ke or fill out the form below.

Performance Guarantees are commonly used in the construction and development of real property, where an owner or investor may require the developer to assure that contractors or project managers procure such bonds in order to guarantee that the value of the work will not be lost in the case of an unfortunate event (such as insolvency of the contractor).

In other cases, a performance bond may be requested to be issued in other large contracts besides civil construction projects. Another example of this use is in commodity contracts where the seller is asked to provide a Bond to reassure the buyer that if the commodity being sold is not in fact delivered (for whatever reason) the buyer will at least receive compensation for his lost costs.

Tenure:
12 months renewable

Security:

 

  • More than 3 years experience – 100% tangible security
  • Less than 3 years experience – 20% cash cover, 80% conventional security
  • Insurance cover by AGF, ATI, USAID, GUARANTCO

 

Eligibility Requirements for a Performance Guarantee at Kingdom Bank

 

  • Award letter
  • Must be a Kingdom Bank account holder – You can find our account offerings here
  • The counter-party must be within the bank approved entity
  • Copy of contract
  • Copy of performance bond if not issued by the bank

 

 

SIGN UP FOR A PERFORMANCE GUARANTEE CONSULTATION

Performance Guarantee Information Form

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