BG-i is an undertaking by the bank to pay the beneficiary the amount specified in the guarantee if the events stated therein (usually a default) have occurred.

Type of facility

• Trade Bills-i Facility

Tenure

The period of Bank Guarantee-i must not exceed one year except in the following cases:

• Guarantees to cover government contracts – expiry of the guarantees must not exceed 12 months after the expiry of the original contract
• Guarantees in respect of import and export of capital goods
• Guarantees in respect of contracts for a specific period
• Guarantees in lieu of earnest money/security deposit for licenses issued by the government for a specified period

• Guaranteeing payment in case of default or non-performance of a certain requirement
• Globally accepted Shariah concept used
• Low late payment charges
• No processing fee

• Sole Proprietor
• Partnership/ Limited Liability Partnership (LLP)
• Private and Public Limited Company
• Government / Statutory Bodies

• Malaysian-controlled or Malaysian-owned business
• Confined to the Halal business/requirement
• Customer must have good credit record and subject to bank’s credit criteria

How to Apply

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