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 1:00pm* will be processed on the same day.


* 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