Retention money guarantee

Your company has to execute a public or private contract, but the sponsor asks for a retention of guarantee on the various deposits he will have to pay you? Do you want to preserve your cash flow and protect yourself against the withholding of these funds

The retention money guarantee is intended to replace deductions or withholdings generally made by the contracting authority, in the event of successive payments as the work progresses, in order to protect itself against improper performance of the obligations of the contract holder (defects, hidden defects, etc.).
Thus, with the retention money guarantee, the bank undertakes vis-à-vis the contracting authority to pay him a previously determined amount in the event of non-compliance with the commitments of the contract holder. It remains valid until final receipt of the contract, materialised by the drawing up of a report.
The amount of the retention guarantee does not generally exceed 10% of the total amount of the contract.

4 key benefits

The retention money guarantee allows you to strengthen your cash flow and to protect you against the risk of non-compliance with the terms of the contracts. Easy to implement, you keep your customer's trust thanks to the quality of the guarantor, BANK OF AFRICA.

A solution to strengthen your cash flow by collecting up to 100% of the amount of the work carried out
A guarantee against the risk of non-compliance with the terms of the contracts;
Simple implementation procedure;
The trust of your customer thanks to the quality of the guarantor, BANK OF AFRICA

Stay informed.

Any VSE (Company whose turnover ≤10 Million Dirhams) or individual entrepreneur, customer of BANK OF AFRICA and successful bidder of a public or private contract can claim this guarantee.

Please contact your BANK OF AFRICA customer advisor or contact the customer relations center on 08 01 00 81 00 in order to get answers to your questions.

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