In the mid 2019, a Construction Contractor in South Africa contacted us to avail Bid Bond Guarantee on their behalf. They were looking to submit their proposal for the bidding of a construction building project. This construction project was more than twice the size of any of their previous building projects. So, they did all their best to win the project without fail.
They quoted the bid and took care of all the things needed to win the bidding contest. Since they had the financial ability and manpower to complete this project, they decided to submit their proposal. But the developer asked for a Bid Bond along with the bid to win the contest.
The Problem: Need to avail Tender Bond to submit a bid
After knowing this, they decided to submit a Tender Guarantee request to us along with the tender copies. They contacted their bank to get a Tender Bond, but the bank denied the request because of a low credit score. And when they approached other banking sectors, they required tangible collateral or other forms of surety to proceed further. So, they left with no idea on how to get a Tender Guarantee to win the bidding contest.
The Challenge: Find direct and trusted Providers
The company started searching online to find other ways to avail a Tender Guarantee. But they were unable to find the way. One good day, while scrolling the news feed, the project manager of the company came across our post from BWT. And it says, “Avail LC / SBLC / BCL / Tender Bond from us Without Any Cash Margin”.
Once he noticed that post, he thought that it would be really helpful for the company. So, he gathered all the info regarding the post; and said the same to the owner. The proprietor felt very happy and contacted us via phone. We asked them to submit their request online by filling out the contact form.
The Solution: BWT arranged Tender Bond on behalf of the client
The contractor filled out and submitted the online form. Once we received the email, we studied to find whether they are eligible to proceed further or not. Since they met all our criteria; we approved their request and asked them to sign the agreement with us. After signing the agreement, they paid the admin fee and issuance fee. And then, we proceed with their request on the issuance. We asked the Bank to issue the Tender Bond on behalf of the client.
Final Result: The client won the Contest with Bid Bond Guarantee
After receiving the Bank Guarantee, the contractor submitted their tender for the contest. And so, they got qualified for the contest and won the office building contract. Filled with gratitude, the contractor conveyed their heartfelt thanks to us.
Do You Require Bid Bond to Win the Bidding Contest?