With Payment guarantee issue on behalf of the Application, the Application will be make payment to the Beneficiary by the due date stated in the contract concluded between the parties.
Conditions
| Application fee | 10,000 MNT |
| Issuance of guarantee: Cash covered | 30,000 MNT, 30 USD |
| Issuance of guarantee: Uncovered | 0.5% / once/ 3-5% annual /quarterly/ |
| Amendment fee | 20,000 MNT, 20 USD |
| the guarantee send to foreign bank: Amendment charge | 3 USD |
| Canceldation fee | No fee |
Requirements
Cash covered: Applicants need to place a guarantee amount with the Bank as collateral.
Uncover: Applicants should hove a credit line with the Bank.
With Bid bond issue by the bank on behalf of the Applicant that Applicant’s tender offer is valid until the end of the tender selection process and when the Applicant concludes a contract with the Beneficiary issue a paper-based or electronic Tender guarantee.
Conditions
| Application fee | 10,000 MNT |
| Issuance of guarantee: Cash covered | 30,000 MNT, 30 USD |
| Issuance of guarantee: Uncovered | 1%-2% /from the amount of the guarantee/ |
| Amendment fee | 20,000 MNT, 20 USD |
| Cancellation fee | No fee |
Requirements
Cash covered: Applicants need to place a guarantee amount with the Bank as collateral.
Uncover: Applicants should hove a credit line with the Bank.
After bank issues a guarantee at the customers request, bank will be obliged to cover the loss incurred to the customer if the contractor fails to fulfill the duty stated on the contract. But the amount compensated shall not exceed the amount of the guarantee.
Conditions
| Application fee | 10,000 MNT |
| Issuance of guarantee: Cash covered | 30,000 MNT, 30 USD |
| Issuance of guarantee: Uncovered | 0.5% /once/ 3-5% annual /quaterly/ |
| Amendment fee | 20,000 MNT, 20 USD |
| Cancellation fee |
No fee |
Requirements
Cash covered:Applicants need to place a guarantee amount with the Bank as collateral.
Uncover: Applicants should hove a credit line with the Bank.
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