Retention Money Guarantees are issued to secure retention money on contracts.
A Retention Money Guarantee is a written document issued by the bank to the owner or buyer, guaranteeing that the applicant will continue to fulfill their contract obligations after withdrawing the final payment of the contract price in advance. This is done at the request of the construction contractor or supplier.
This facility allows you to collect the final payment in advance from the owner or buyer in the later stages of a construction or procurement contract.
Product information and terms & conditions are subject to change from time to time. Therefore, it is advisable to contact the branch nearest to you for the latest information and prevailing terms & conditions.
