About Advance Payment Guarantee
In the context of a contract, a guarantee is provided by a recipient party who receives an advance payment from a client. This guarantee serves as a safeguard for the client in case the recipient party fails to fulfill its contractual obligations. If such a situation arises, the client has the right to invoke the guarantee in order to recover the advance payment made.
The contractor shall be able to access the funds riding on the Tripartite collateral arrangement between First Capital Ltd, it’s partner banks and insurance companies.
- Filling of an application form
- Award Letter.
- Company registration documents.
- A list of previously performed jobs.
- Company Bank statements.
- For amounts above Ksh. 5,000,000 additional documents like Audited books, Cashflows, Company Profile will be required.