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- Bank Guarantee is an irrevocable written obligation issued by OSK Malaysia to pay an agreed sum, in case the customer defaults in fulfilling his obligation. Issued under the Kafalah contract, Bank Guarantee is OSK Malaysia’s irrevocable undertaking to guarantee performance or financial standing of a customer. Bank Guarantee is not a financing instrument.
- Importer can take delivery of goods immediately
- Importer will not have to incur demurrage and warehousing charges
- Enables the importer to sell the goods without delay
- Open to companies or multi national corporation with KFHM trade finance facilities.
- Standard BG application form
- Letter of Indemnity
- Format of the BG as per beneficiary requirement
- As stipulated in the BG application form
- As stipulated in the facility agreement
