Bank guarantees

A Bank Guarantee is a written undertaking in which the bank agrees to make stipulated payments on your behalf should you fail to fulfil or carry out specified terms of a contract. Guarantees may also be issued for of the purchase of fixed property and against cash cover. Any demands for payment under a guarantee are to be made in writing.

What does it offer me?

  • Enables you to bid for contracts that call for guarantees and to buy fixed property where a guarantee is usually a prerequisite
  • You may avoid paying in advance or lodging cash cover to secure a purchase or contract If cash cover is lodged with us under a pledge, you will be paid interest on the investment
  • Guarantees may continue for a specified period. Wherever possible a definite or determined expiry date or a clause, specifying a period of notice or withdrawal, is included in the guarantee
  • The party in whose favour the guarantee is issued is entitled to specify the wording of the document. At your request, we will draft the wording of the document

 

Qualifying criteria

  • Individuals with a registered business or an incorporated company registered in Namibia
  • Individuals who plan to start a business
  • Registered Business who was awarded contracts with a reputable Institution

 

What do I need to apply?

  • Copy of purchase contract if applicable
  • Copy of performance contract if applicable
  • Copy of tender if applicable
  • Request to issue Guarantee by Bank
  • Certificate of incorporation
  • Certificate to commence business
  • Audited financial statement or management accounts
  • Cash flow forecast for the term of the facility
  • Profit and loss projection for the term of the facility
  • Suretyship of guarantors
  • Board resolution to acquire the Guarantee

 

Rates and fees

The charges imposed by the bank are risk related and include an establishment fee, a telegraphic or postage fee and risk-related charge payable quarterly in advance until the guarantee is cancelled.

Contact us

Northern region:

  • Ismael Hakaaje – 065 220 911
  • Richard Nehoya – 065 220 911

Central region:

  • Jeaninne Bruwer 061 294 2850
  • Bernadene Greeves 061 294 2959
  • Hannelie Rossouw: 061 294 2870
  • Bonde Shipatuleni: 061 294 9511
  • Nello Thimotheus: 061 294 4294
  • Christa Lewis: 061 294 9413

Eastern region:

  • PJ Bergh : 062 562 074

Coastal region:

  • Ansie Meyer 064 412 531
  • Anton van Rensburg: 064 201 1252

Southern region:

  • Johan Marais: 063 223274
  • Werner de Waal: 063 242 371

 

 


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Customer Care Line

Namibia
0819286

International
00264 61 294 2126

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