• Guarantees@CIMB

 

A guarantee issued by the Bank whereby it undertakes to pay the Beneficiary an agreed sum (principal), if customer (the applicant of the BG/BG-i) fails or defaults in fulfilling their obligations under the terms and conditions of the contract or agreement with the Beneficiary.

 

A simplified version of our Bank Guarantee applications with faster turnaround time and simple documentation. The application process is designed to be simple and easy with a single application form.

 

 

BG-i is based on the Shariah principle of Kafalah which refers to a contract of guarantee or surety given by one party to discharge the liability of a third party in the case of default.

 

 

 

A simplified version of our Bank Guarantee-i applications with faster turnaround time and simple documentation. The application process is designed to be simple and easy with a single application form.

 

A written undertaking by the Bank to the Beneficiary at the request of the applicant. Its purpose is to effect payment of a stated amount within a prescribed time limit and against stipulated documents, or upon occurrence of a certain default event.

A written undertaking by the Bank to the Beneficiary at the request of the applicant. Its purpose is to effect payment of a stated amount within a prescribed time limit and against stipulated documents, or upon occurrence of a certain default event.

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