Usage of Banker's Guarantee

• Performance Bond: Some bidding contracts require the successful bidder to provide a Performance Guarantee to protect against a default such as:
  • Security bond favouring Controller of Immigration for foreign workers, students pass, social visit pass, etc.
  • Exit permit guarantee favouring Central Manpower Base
  • Tender/Bid Bonds
• Financial Guarantee: Issued as an alternative as cash/security deposit that the principal need to place with the beneficiary for an underlying transaction.