DEVELOPMENT FINANCE PRODUCTS


CEPS Guarantee

This Bank Guarantee is issued to CEPS on the customers behalf to enable him/her enjoy opportunity of deferred payment in respect of custom duties.

 

Bid Bond/ Bid Security/ Tender Security

This facility is available at the Bank for customers, mainly contractors who intend to tender or bid for contracts.

 

GHACEM Guarantee

This guarantee is issued to GHACEM by the bank on behalf of the customer for the supply of cement. It’s a Supplier’s guarantee covering supplier’s credit. All sales made by the supplier is channeled through the customers’ account to be transferred to GHACEM on due dates.

 

Bank Guarantee/ Trade Guarantee/ Suppliers Guarantee

Customers could purchase on credit from suppliers if this facility is accessed. Payments of goods supplied are paid on a due date. In the event of the customer's inability to pay a supplier on schedule the latter can revoke the guarantee from the issuer.

 

Trade/ Suppliers Guarantee.

This a product serves to protect claims arising from loan/advance or from some other financial liability. If an importer unexpectedly fails to make payment when the exporter has met his contractual obligagtions, a written declaration is sent to the guarantor's Bank, which then obliges them to pay.

 

Performance Bond/ Performance Security/ Performance Guarantee

Contract awarding agencies normally request from successful bidders to submit legal documents guaranteeing completion of the contract award formalities and readiness to execute the contract. In the event of failure to complete the work, the awarding agency can revoke the guarantee from the issuer.

 

Advance Mobilization Guarantee/ Advance Payment Guarantee

This facility provided by the Bank enables successful Bidders to access Advance Mobilization from the contract awarding agency towards the execution of a contract. In the event of failure of the contractor to perform, the awarding agency can revoke the guarantee from the issuer.

 

Overdraft

Provides opportunity for customers to overdraw their accounts to meet working capital requirement.

 

Short Term Loans

The facility enables customers access funds to execute projects. Re-payment is up to two (2) years. Our Oil and Gas customers can apply for this facility to purchase fuel tankers.

 

Long Term Loans

Provides an avenue for customers of the Bank to complete their projects. Oil and Gas customers can also apply for this facility to construct their filling stations. Re-payments normally range between 2-5 years, depending on the type of project being executed. Agricultural project under the Outgrower Value Chain Funds (OVCF) can access this facility. For OVCF, funding facilities could go beyond 5 years.

 

Letters of Credit

Enables importers buy from their foreign suppliers without making immediate payment. Our customers within the Oil and Gas sector are able to import crude oil and other refined petroleum product using this facility.

 

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