Guarantee for Deposit Refund

As a construction company, have you signed an import or export contract? Do you want to guarantee your down payment in the event of a contract breach ?

BANK OF AFRICA provides you with the Guarantee for Deposit Refund, a simple solution that guarantees the recovery of down payments in the event of a contract breach or non-compliance with the terms of the contract.

5 key benefits

The guarantee for deposit refund is an undertaking by signature which serves to guarantee the prime contractor the reimbursement of deposits or down payments that it grants the contract holder in order to facilitate the financing of the works, supplies or services.

A fast and simple procedure to implement
The guarantee to obtain an advance from the contracting authority
A guarantee against the risk of non-compliance with the terms of the contracts
The way to relieve the burden on your cash flow
A simple way to ensure the settlement of all partners

Your questions, our answers

The Refund Guarantee is generally intended for companies operating in the construction and public works industry. It allows the prime contractor to obtain the necessary down payments to finance the start of the work.

BANK OF AFRICA's Guarantee for Deposit Refund is valid until the due date of the commercial contract, either on delivery or at the end of the service, in order to guarantee the proper completion of the work.

The guarantee for deposit refund's amount is fixed by the prime contractor in the contract. It generally reaches 20 to 30% of the market's value.