Bank Guarantee Amount

A Bank Guarantee is an undertaking by the bank to pay the favouree (wholly or in part) the amount specified in the Bank Guarantee, upon presentation of the original document, irrespective of any prior instructions from the client BNBL started issuing Bank Guarantee Amount and Performance Guarantees from 1997.Today the total outstanding portfolio for each is Nu.392,551,668.72 and Nu.320,092,843.09 respectively as of 30/06/2007. The facility is designed for clients who need to support business facilities or contracts entered into, with other financial institutions or who require substitution for lodgement of cash cover which frees up their working capital

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