Bank Guarantee-i (BG-i)
Bank Guarantee-i is an irrevocable written obligation issued under contract of Kafalah by the Bank to assure payment in case of demand by beneficiary. The Bank in essence, acts as a guarantor.
Benefits & Features
Benefits of using our products:
- Our BG-i is widely accepted and can be leveraged to enhance your reputation
- Unlocked your capital from required deposits or payment in advance
Cut-off time
Application received by 1:00 pm will be processed on the same day (subject to BG format and all terms & conditions complied with):
Application under Revolving Trade Facility
- Without stamping (T +0 day)
- With stamping (T + 1 day)
Application over the counter (BG 1:1)
- Without stamping (T +2 days)
- With stamping (T + 3 days)
* Subject to all terms and conditions complied with
Fees & Charges
Subject |
Charges |
Rate / Amount |
|---|---|---|
| 1. Upon issuance | ||
| Non-Financial Guarantee | Commission |
0.6% – 2.0% p.a. Min : RM50.00 |
| Financial Guarantee | Commission |
0.75% – 2.25% p.a. Min : RM50.00 Note * Deviation of Rate = follow L/O * Deviation of Min. Charges = follow this standard (RM50.00) Commission formula: = FV x r x t / 36500 Where, FV = LG value r = commission rate (as determine in LO) t = no of month or part thereof |
| Non-Standard Format | Handling Fee | RM150.00 flat rate |
| BG 1:1 : | Commission | |
| Financial Guarantee | Commission | As per above commission formula with commission rates as 1.75% p.a. of the BG amount or RM300.00 whichever is higher. |
| Performance Guarantee | Commission | As per above commission formula with commission rates as 1.5% p.a. of the BG amount or RM300.00 whichever is higher. |
| 2. Amendment | ||
| Extension of period | Commission |
As per commission formula above Note: Commission will be charged for the extended contract period only. Min : RM50.00 |
| Increase in amount | Commission |
As per commission formula above Note: Commission will be charged from the amendment date till the expiry date only. Min : RM50.00 |
| Only changes in particular other than period and amount | Commission | RM50.00 per request |
| Reduction in tenor and amount | Commission | RM50.00 per request |
| Amount increase and extension of expiry date | Commission |
As per commission formula calculated based on new amount from the extension date until new expiry date. Min : RM50.00 |
| Amount decrease and extension of expiry date | Commission |
As per commission formula calculated based on new amount (decreased amount) from the extension date to the new expiry date. Min : RM50.00 |
| Local | Postage | Actual direct cost incurred |
| Courier | Actual direct cost incurred | |
| Foreign | Courier | Actual direct cost incurred |
| Issuance | SWIFT MT760 | RM60.00 |
| Amendment | SWIFT MT767 | RM50.00 |
| Others (MT799 etc.) |
Local :RM25.00 Foreign :RM50.00 |
|
| 3. Letter of Indemnity | ||
| Signed by applicant | Stamp duty | RM10.00 |
| Signed by applicant and third party as a guarantor (if signed on the same LI) | Stamp duty | RM10.00 |
| 4. Original copy Bank Guarantee | Stamp duty | RM10.00 (regardless of type of guarantee) |
| 5. Replacement of Lost Guarantee | Other Charges (including out of pocket expenses) | RM50.00 |
| 6. Others | ||
| Fax | Out of pocket expenses | Actual direct cost Incurred |
| Photocopy | Out of pocket expenses | Actual direct cost Incurred |
| Other direct cost | Out of pocket expenses | Actual direct cost Incurred |
Product Disclosure Sheet
Click here to download the PDS for BG-i
Forms
Click here to download Application Form for BG-i
Click here to download the Amendment Form for BG-i
Click here to download the Indemnity Form for BG-i
