Guarantee is a written irrevocable undertaking issued by the bank to pay the beneficiary on demand if it’s customer has not fulfilled his/her contractual obligations and a specific sum of money within the validity of the guarantee.
KCB guarantees are acceptable locally and internationally.
Shari’ah contract: Lafala.
What We Need From You*
- An approved Guarantee line of Credit or Cash margin.
- Customer’s letter of request.
- KCB Guarantee application Form.
- Format of guarantee (where available).
For a foreign guarantee, the above applies together with:
- Copy of Import Declaration Form (IDF).
- Pro-Forma Invoice.
Rates & Fees*
- Commission - 4% (Negotiable) one off.