Bronze Wing Trading L.L.C. can support your exports or projects by providing a Performance bond on behalf of the supplier / Contractor.
To avail PB / PG from rated banks, please follow the simple process given below:
Performance Bond or Performance Guarantee or Surety Bond is a financial tool issued by a bank on its clients’ behalf to assure their performance. Further, this acts as a guarantee; to secure any claim by the buyer to the seller; in case of any default in the supply of goods; as agreed in the contract.
Performance Guarantee also often used in construction projects. Here, the contractor provides this bond in favor of the project owner to assure their work on the project. Also, this protects the developer against any claim; in case of non performance by the contractor, as per their agreed terms. Also, this bond assures that even in case of any default; – such as bankruptcy or any events, the work will not be stopped or affected.
At the same time, this is also issued by the seller, in favor of a buyer while concluding large contracts of goods supply. Also, this issued MT760 will act as a guarantee to obtain the Letter of Credit – DLC MT700 from the buyer to conclude the deal.
Getting such bonds from traditional banks can be tough. As the process is slow and also requires the tie up of working capital. We understand these problems; Also, we’re ready to provide you the right solution. Further, being performance bond providers, we provide these bonds from our rated bank accounts. So, there is no need to tie up your cash funds; also, no need for blocking your capital / funds to avail MT760.
There 3 parties involved with PG MT760 and they are:-
Principal – Contractor or supplier, the one who performs the job.
Obligee – The project owner or buyer, the one who receives the guarantee. And the one who hires the contractor / seller to complete the job.
Bank– Who issues the guarantee; and assures that the contractor or seller will perform as per the contract terms.
For instance, if any default occurs, then the developer / buyer can claim the bond to get proper compensation. To file a claim under the issued bond, there are a few things that must be noted:-
The performance bond cost may vary based on the tenure of the required bond. Usually, it mainly includes commission fees and other handling fees. Further, these charges should be borne by the applicant; and it should be paid to the issuing bank.
Bronze Wing Trading L.L.C., the Performance Bond providers are here to assist you to avail the required bond from rated banks without cash margin. Over the 30 years, we have helped more than 25, 000 traders to conclude their trade deal; and also to protect their business against fiscal risks.
Do you require Performance Bonds to assure your performance to your buyer / project owner?
Avail Performance Guarantee from us on your behalf! We will issue the bond within 48 hours! Apply now!