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Bank Guarantees

FPyIC GROUP CORP. provides Bank Guarantees to its customers as a promise under which we will meet a debtor’s liabilities in a situation where a person is not able to fulfil the contractual obligations between the beneficiary and the applicant. This will provide comfort to the beneficiary and will resort to the guarantee for payment.

The bank guarantee offered by FPyIC GROUP CORP. will enable you to grow by expanding your business and bid on the transactions. It is a versatile tool which can be utilized for numerous instruments like a performance bond, a bid bond, a warranty bond, advanced payment guarantee, a payment guarantee, a letter of indemnity, a confirmed payment order or a rental guarantee.

Bank Guarantees are further divided into the following types:

  1. Bid Bond: This type of bond is typically issued for bidders that are involved in construction based projects.

  2. Performance Bond: This also known as Contract Bond is used in the real estate industry for ensuring that a contractor completes his assigned project.

  3. Advance Payment Bond: This is an agreement under which an issuer will take the responsibility to return the buyer an advanced payment if the seller fails to pay.

  4. Warranty Bond: This is a bond which signifies that any sort of defects found in the project will get repaired under the warranty period.

  5. Letter of Indemnity: This guarantees that the contractual provisions will be fulfilled, otherwise, all the financial reparations will be done.

  6. Payment Guarantee: A guaranty that assures financial security to the supplier in a situation where the applicant is not able to pay for the goods or services that are supplied.

  7. Rental Guarantees: This assures payment to a landlord if a tenant defaults to pay back

  8. Surety and Bonds

  9. Construction Bonds o Bid bonds o Performance bonds o Advanced payment bonds o Maintenance bonds o Urbanisation bonds

  10. Import / Export / Distribution Bonds o Temporary import and export bonds o Haulage / transportation bonds o Customs bonds

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