Unsecured Bid Bonds
What is a Bid bond?
A bid bond or guarantee is an obligation by the bank to pay a sum of money in the event of the non - performance of a contract by a third party. It is required during the tendering process for public and private procurement and is presented to the procuring entity as an assurance of capability during the selection process.
For the Unsecured Bid bonds, we will issue you Bid bonds without any security.
What the CBA Bid Bond Offers you:
Maximum amount per bond
- UGX 340M (any amounts above this will need to be secured for the excess amount)
- Maximum 360 days subject to tender provisions
- CBA Account Holders
- Acceptable Account Conduct at the Head of Credit’s discretion
- No negative information on CRB-Credit Reference Bureau
- Duly completed application form
- Copies of specifications and conditions pages of the tender document
- CRB Checks.
Fees and Commissions
- 1% per Quarter, Min. UGX 100,000
- Amendment fee – UGX 50,000