A bid bond or tender security is always a requirement during the tendering process and is presented to the procuring entity as a guarantee for the bidding process. It’s an assurance that the successful bidder will execute the contract and provide the required performance.
Riba Credit Limited through partnership with reputable, recognized and authorized institutions, issue Bid Bonds or tender securities to enable tendering firms to obtain these guarantees for the contracts they bid for under flexible terms such as:
- Cash free
- Simple, Convenient and flexible
- Turnaround time within 1 hour