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Trade Finance Services
Trade finance signifies financing for trade, and it concerns both domestic and International trade transactions. A trade transaction requires a seller of goods and services as well as a buyer. Various intermediaries such as banks and financial institutions can facilitate these transactions by financing the trade as well as a buyer. SMEP Microfinance Bank can facilitate these:
Bid Bonds
Surety bond that helps protect the contractor from changing orders
Performance Bonds/Guarantees
Issued to one party of a contract as a guarantee against the failure of the other party to meet the obligations of the contract
Advance Payments/Guarantees
Surety bond posted by a contractor to guarantee that its subcontractors and material suppliers on the project will be paid
Bid Bonds
A written guarantee by SMEP Microfinance Bank to the employer/ procuring entity that has advertised for a service to execute a contract and ensure that upon winning the bid/tender, they shall accept the same.
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