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A leading Government owned commercial bank of Pakistan with total assets worth around USD: 13 billion.


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Bank Guarantees

CJSC "NBP Pakistan Subsidiary Bank in Tajikistan" provides the facilities of issuance of Guarantees on behalf of its clients against deposit of cash, collateral or from the amount approved for the client's credit line. 

A Bank guarantee means that the bank opens a written certificate to the beneficiary / establishes an obligation at the consignor's request. As a guarantor, the bank has responsibilities to handle the debt or obligations instead of the consignor. The rights and obligations of both parties would be prescribed by the contract. Irrevocable assurances means that the bank as guarantor shall not be entitled to cancel the guarantee before the expiry of the warranty, to reduce the amount and duration of the guarantee, or make any change in or warranty, prejudicing the rights of the beneficiary without the beneficiary's consent to such change.

The bank offers the following types of services related to issuance of commercial guarantees for its clients against very nominal cost:


At the proposal stage: Tender Guarantee (also called Bid Bond)

This is usually issued for an amount equal to between 1 and 2 percent of the contract value. It gives the employer compensation for additional costs if the party submitting the tender does not take up the contract and it must be awarded to another party.

Performance Guarantee / Performance Bond.

Normally issued for an amount equal to between 5 and 10 percent of the contact value, this guarantee assures payment to the employer in the event that the contractor fails to fulfill contract obligations.

Advance Payment Guarantee

This enables the employer to get a refund of advance payments made in the event of default by the contractor. It is issued for the full amount of the advance payment, but may contain reduction clauses, which enable a reduction in the maximum amount upon evidence of progressive performance.

Retention Money Guarantee

Most major projects call for stage payments as work progresses. Often the employer retains a percentage of the payment (retention money), as cover for any hidden defects in the completed work. A retention money guarantee allows for immediate release of retention money to the contractor. The employer can get a refund of retention money released, in the event of default by the contractor.

Payment Guarantee

This is used as security for payment obligations. It is also referred to as a Standby Letter of Credit.

Maintenance Guarantee

This ensures that the contactor does not abandon the contract after completion of the construction phase, but continues to honor any maintenance obligations as per the original agreement.

Customs Guarantee

Contractors often need to import equipment temporarily to carry out a contract. Import duty would normally be payable, but the customs authorities will grant exemption if the contractor undertakes to re-export the equipment on completion of the contract. The contractor then has to provide the customs authority with this guarantee, which prevents the contractor from selling the goods instead of re-exporting them.

Shipping Guarantee

This enables the buyer to obtain release of the goods from the carrier, despite the bills of lading being lost or delayed.

CJSC "NBP Pakistan Subsidiary Bank in Tajikistan" will also provide you with services for the production of counter-guarantees, using an extensive network of correspondent banks of the parent bank in the world.

Prerequisite for the release of guarantees is the presence of a current account opened with CJSC "NBP Pakistan Subsidiary Bank in Tajikistan”, suitable collateral and submission of documents as per rules of National Bank of Tajikistan.

Currency rates

Currency exchange rates on July 08, 2019

 
    Purchase Sell  
   1 USD 9.4200 9.4400 TJS
   1 EUR 10.6000

10.65000

TJS 
         

News

07/10/2012
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