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Tender Guarantee/Bid Bond

Description

Tender Guarantee/Bid Bond services are provided by Bank of China Limited Macau Branch. A Tender Guarantee/Bid Bond is issued by Bank of China and at the request of a tenderer/bidder for tender of a project, guaranteeing that the tenderer/bidder shall not withdraw or amend its tender during the validity period of the tender and, if awarded the contract, to sign the contract or submit performance guarantee within a certain time.

Features

1. As an alternative to security deposit, a Tender guarantee/Bid Bond can reduce tenderer/bidder’s financial stress;

2. Ensure the awarded tenderer/bidder will sign the contract according to the terms of the tender.

Target Customers

1. Contractors involved in constructions;

2. Sellers involved in material procurements.

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