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Express Bank Guarantee-i (Express BG-i)
An undertaking by the Bank to pay a specific amount of money to the Beneficiary in the event of default by the Applicant.
Express BG-i is based on Kafalah concept.
This service is designed to expedite the speedy issuance of Bank Guarantee-i with no facility required. Each issuance of Express BG-i is in exchange of Cash or Term Deposit-i/Fixed Deposit (TD-i/FD).
Features
Types of Guarantee
1. Tender Guarantee-i
2. Security Deposit Guarantee-i
3. Performance Guarantee-i
4. Advance Payment Guarantee-i
Eligibility
Account Holder to the Bank either:
1. Individual
2. Sole Proprietor
3. Partnership
4. Society
5. Corporation
Commission
(for new BG-i issuance)
0.125% per month or part of month thereof (Minimum RM250)
Subject to terms and conditions apply.
Benefits
Easily Accessible
No pre-approved BG-i facility is required.
Hassle-Free
Fast and simplified application process.
Flexible
Various options of deposit in exchange for Express BG-i
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