What is a bid bond?
A bid bond or tender security is a requirement during the tendering process and is presented to the procuring entity as an assurance of capability during the selection process. It guarantees financial compensation from the bank should the bidder not comply with his obligations.
At CBA, we offer you flexible terms to help you get this vital document in the form of unsecured Bid Bonds.
What the CBA Bid Bond offers you.
Max Amount per Bid Bond
- KES 10M.
- Maximum 360 days subject to tender provisions.
KES, USD and Euros.
- Duly completed application form.
- Copies of specifications and conditions pages of the tender document.
- Company profile.
Fees and Commissions
1% per quarter or part thereof, minimum KES 5000.
0.75% per quarter commission charged upfront.
Why the CBA Bid Bond.
- Enjoy fast service by visiting any CBA Branch with the required documents and walking out with a Bid Bond in hand.
- We offer competitive interest rates.
- No security required.