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Letter of Guarantee
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​​​Issuance of Letters of Guarantees to exporters to support their international bids and international project execution (banking instruments available: bid bond, advanced payment bond, performance guarantee, warranty bond and retention bond)​

Product Description
Properties
Beneficiary

Saudi Exporter

Uses

Letter of Guarantee (Bid Bond, Advance Payment Bond, Performance Guarantee, Warranty Bond, Retention Bond) associated with development of international projects with procurement from Saudi Arabia

Type

To be determined after evaluation

Utilization

Guarantee coverage according to project needs and assessment outcomes

Coverage

To be determined after evaluation

Facility Duration

Short, medium or long-term

Repayment

-

Security

To be determined after evaluation

Cost

To be determined after evaluation

Benefits
  • Improve competitiveness in international markets
  • Expand customer base in new or existing markets
Eligibility
  • Eligibility criteria to be determined after assessment.​​

Prerequisite

​initial requirements for new Saudi Exporters applications:

  • Company Profile
  • Management Profile
  • Industrial License
  • Zakat and VAT Registration Certificates
  • SIMAH Credit Check Declaration
  • Certificate of Origin (for Products)
Submission requirements:
  • Commercial Registration.
  • Memorandum of Association (for companies).
  • Audited financial statements for the last three years as well as the last quarter.
  • The structure of the company and its subsidiaries.
  • Know your customer form.
  • Clearance reports for the last three years, each year separately.
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