The various forms of international guarantees offered by BTL are as follows
Bid guarantee for international tenders
This guarantee covers you as an importer who has issued an international invitation to tender, in the event that one of the bidders withdraws its offer before the contract is awarded, or the successful bidder refuses the order or marks “to sign the contract”.
Performance guarantee for the successful completion of contracts to be carried out abroad
This guarantee ensures the proper performance of contractual obligations between an importer and an exporter during the execution of a contract. The guarantee remains valid until the contract is fully performed, or until released by the beneficiary.
Advance payment guarantee for advance payments
This guarantee ensures the return of the down-payment made for a contract if your foreign supplier fails to meet its contractual obligations.
Retention guarantee
The BTL guarantees you, via the retention bond, the collection of all funds withheld in this context. The amount varies from 5% to 10% of the contract amount. It is discharged by returning the original bond or by releasing it.
Whether you need a bid guarantee, a performance bond, an advance payment guarantee or a holdback guarantee, BTL has a team of experts to advise you, check terms and conditions, clarify ambiguous terms and quickly negotiate the documents presented. Our international guarantees are a safe and effective way of minimizing the risks associated with international trade.
