Performance Bonds

This is an undertaking by a bank to pay a beneficiary a certain amount of money if the applicant fails to perform a contract as per the agreement between the applicant and the beneficiary.

Requirements: First-time applicant: Company/Enterprise registration documents, PIN for comp & directors, tax compliance, Award Letter, Bank statements if banking elsewhere, a copy of collateral to cover same (Bank is flexible) Repeat applicant: Award letter, collateral to cover and application. However, Performance Bond of amount above Ksh.5m Bank may require more documents like Financials.