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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.

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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.

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Bank Guarantees are further divided into the following types:

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  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

© 2021 by FPyIC Group Corp. - Delaware US

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