The Export Development and Technology Exchange Fund, as a reputable financial institution accepted by various employers, including ministries, executive agencies, and banks, issues a guarantee to applicants after completing the validation process and receiving the necessary documents.
Guarantee of good workmanship
A performance bond is a financial commitment issued by our financial institution that guarantees that the contractor or project executor will fulfill all of their obligations under the contract and correctly. In the event that the work is not performed correctly, the employer can use this bond to compensate for damages. This service assures you that your projects will proceed with quality and according to plan.
This bond is issued to protect the employer’s interests and guarantees that in the event that the contractor fails to perform its obligations correctly or incompletely, the employer can use the amount of this bond to compensate for damages. This type of bond is usually issued for large projects such as construction projects, information technology, contracting, or any project that requires assurance of the correct execution of the work.
Advance payment guarantee
Advance payment guarantee is another service of our fund, which is provided to ensure the proper use of advance payments received by the contractor or project executor. This guarantee assures the employer that the advance payment amount will be used solely to secure initial resources and implement the project in accordance with the contract. In the event of non-fulfillment of obligations by the contractor, the employer can use the guarantee to recover the advance payment.
This service helps employers to provide initial capital to the contractor with greater confidence and manage the project process transparently and securely.
Guarantee of participation in the tender/auction
The Bidding/Auction Participation Guarantee is one of the key services of our fund, issued to ensure the participants’ compliance with the terms and conditions of the bidding or auction. This guarantee ensures that the participant, if successful, will fulfill its obligations, including concluding the contract and implementing the project based on the submitted proposal. Otherwise, the guarantee amount is paid to the employer or the organizer of the bidding/auction.
This service helps employers to ensure the seriousness and commitment of the participants in the bidding or auction process and reduce the risks associated with violation or withdrawal.
Payment commitment guarantee
Payment guarantee is one of our specialized services that guarantees that the obligor or buyer in financial contracts will fulfill their installments or payment obligations on time and in full. In the event of non-payment or breach of financial obligations, the employer or creditor can receive the amount of the guarantee and compensate for their losses.
This service helps employers and sellers to ensure that the financial obligations of the contracting party are fulfilled correctly and on time and reduce the risks associated with non-payment.
