Amidst COVID-19 outbreak, the building contractor in Dubai received a construction contract from one of the developers in UAE. To sign the contract, a UAE contractor required a Performance Bank Guarantee. For this, they contacted us with their Surety Bond request.
Problem: The Client Required Performance Bank Guarantee
A UAE-based contractor in Dubai got a worthy building contract from a project owner in UAE. But, to sign the contract and to guarantee the performance to their project owner, the contractor required a Performance Bond. By availing this bond, the contractor needs to provide assurance of their work to the project owner. So, they looked for the options to avail such an MT760 on their behalf.
Challenge: How to Avail Performance Bank Guarantee
Because of the impact of the COVID-19, the contractor had no idea on how to get MT760 on their behalf. They faced a fiscal crisis, so they can’t able to avail it from their end. So, they searched online to find Performance Bond Providers in Dubai. Further, while searching for Google, they came across our website. Also, they contacted us to get assured about our service. Since they felt satisfied with our answers, they submitted their request through our website.
Submit your PB MT760 Request to Us – Click Here!
Solution: Issued Performance Bank Guarantee to Our Client
Despite COVID-19 outbreak, we decided to assist our client in availing MT760 on their behalf. Once we received the request from the client, we studied their contract. Further, we agreed with them to provide the bond. And then, we signed the service agreement with them; then, we asked them to pay the service charge. Accordingly, they signed the agreement and paid the service charge to us. And then, we started to process their Construction Bond request.
Simple Process to Get Performance Bond – Apply Now!
Even in lockdowns and curfews, we had done our best to ensure complete satisfaction for our client. At first, we blocked our bank limit and structured the required bond as per their request. And then, we sent the draft for their approval. Further, once we received the draft approval, and issuance fee, we requested our bank to issue the bond for our client on behalf of the client.
Within 2 to 3 days, our bank issued the Performance Bond in favour of the project owner; and on behalf of the contractor. Further, with the bond, they successfully signed the contract with us; and the assigned contract to the project owner. Moreover, after receiving the bond in their favour, they signed the building contract with the contractor.
The Client’s Review
With heartfelt thanks, our client provided a statement to BWT that states as follows: “We are really thankful to BWT for their timely help, in such a pandemic condition. Also, we appreciate the level of service, they offered us. In addition, we also recommend BWT and their services; to all who require Bank Guarantee for their projects.”
This is how we helped the UAE Contractor to avail Performance bond provider in UAE solutions and ensure their project requirements.
How to Get Performance Bond?
Are you in need of a Performance Bond to sign new trade deals or contracts? You can submit your requirements to us. We can assist you by providing a Performance bond provider at Dubai solution on behalf of your company without blocking your working capital. Further, we will block our bank limit as per your bond value and will issue the required Surety Bond in 2 banking days.