Payment Guarantee in Construction – Advance Payment Bond

UAE Contractor Availed Payment Guarantee from

Bronze Wing TradingWithout Blocking Cash

Funds

Presented by www.bwtradefinance.comsupport@bwtradefinance.com

The Client’s Requirement

A UAE based Construction Company contacted Bronze Wing Trading L.L.C. to avail Advance Payment Guarantee on behalf of their company and in favor of their developer in Dubai.

Problem: Required Advance Payment Guarantee

Challenge: How to Avail MT760 without Cash Margin

Solution: BWT Issued the Required Payment Guarantee

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Problem: Required Advance Payment Guarantee

A UAE based construction company signed a profitable high-rise building project with one of the leading developer in Dubai. To meet the significant cost of the project, the contractor required advance payments from the developer.

To issue the advance payments, the developer demanded from the contractor to provide Bank Guarantee in their favor.

3

Challenge: How to Avail MT760 without Cash Margin

The Contractor contacted their bank to avail the MT760 Guarantee. But the bank demanded certain percent of the guarantee value as cash margin.

Since the contractor didn’t have cash funds in their hand, the bank declined their request.

Finally, the contractor came across with our newsletter and contacted us with their request.

4

Solution: BWT Issued the Required Payment Guarantee

We studied their contractual agreement and approved their request to provide the MT760 guarantee. The client signed the service agreement with us and paid the admin charges.We blocked our bank limit and structured the payment guarantee with our bank and sent the Bank Guarantee draft for the client’s approval. The client approved the BG draft and paid the issuance fee charges. Also, provided the other related documents.Instantly, we sent a request to our bank to issue the Payment Guarantee from our bank account in favor of the developer.

5

Once the developer received the Bank Guarantee, they released the

advance payments to the contractor. And the deal concluded

successfully.

Read the Full Story,

The Contractor Received the Advance Payments from the Developer

6

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Advance Payment Guarantee Available for

Contractors Bronze Wing Trading L.L.C., specializes in assisting contractors to avail lucrative contractors by providing a range of guarantees without blocking their working capital.

Bank Guarantee

Performance Guarantee

Advance Payment Guarantee

Bid Bond Guarantee

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