Performance Bonds.

This is an undertaking by a bank to pay a beneficiary a certain amount of money if the applicant fails to perform a contract as per the agreement between the applicant and the beneficiary.

Requirements;

First-time applicant:-

– Company/Enterprise registration documents.
– PIN for company & directors.
– Tax compliance certificate.
– Award Letter.
– Bank statements if banking elsewhere.
– A copy of collateral to cover same (Bank is flexible).

Repeat applicant:-

– Award letter.
– Collateral to cover and application.

However, Performance Bond of amount above KES 5 Million, Bank may require more documents like Financials.