Guarantees for tenders/bids
Applying for a tender (bid) and need a Guarantee? We have the solution
In many of the cases your company will be requested to guarantee your ability and financial strength to perform the project after you win the tender. Without them, project owners would have little in the way of assurance that the bidder they select for a job would be able to properly complete the job without running into cash flow problems along the way.
By providing guarantee for their respective bids, each bidder for the project is able to provide sufficient assurance to the owner that the project is within his means.
The classics solution is usually, to provide a bank “letter of guarantee”, but in many cases the bank will not issue this letter when your cash flow cannot secure it, or will require a cash deposit to ensure their letter. For many companies, this creates a ‘dead end” for applying to any bid.
Mentor finance team has selected several solutions to fit our clients, companies which apply for a bid. The selected solution can fit mostly to the construction and infrastructure bids, but can be customized to any bid and needs.
The existentant guarantee will provide the owner with assurance that the bidder has the financial means to accept the job for the price quoted in the bid.
In order to apply for this products please complete this form:
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