A Bid Bond, also known as a Tender Guarantee, is a type of financial guarantee issued by a bank or financial institution to ensure that a bidder will honor the terms of their tender proposal. It provides assurance to the project owner that the bidder is financially capable of fulfilling the terms of the contract if selected. At MET Holding, we assist businesses in securing Bid Bonds to participate in competitive bidding processes without the need to block cash funds. Our expert guidance ensures a smooth and efficient process, allowing clients to confidently submit their tenders and secure their projects.

How to Get a Bid Bond (Tender Guarantee) at MET Holding

Do you need a Bid Bond (Tender Guarantee) to submit your tender for an upcoming bidding contest? MET Holding offers a simple and efficient process to obtain a Tender Bond without blocking cash funds. Follow the steps below:

1. Initial Request Submission
The Seller/Contractor submits their request to MET Holding by providing the tender documents or quote to complete the project within the specified timeline.

2. Review and Approval
MET Holding will review the transaction and assess whether the buyer meets all the necessary criteria for issuing a Bid Bond. If the request is approved, we will ask the buyer to sign the service agreement and pay the required administrative charges.

3. Structuring the Bond
After the service agreement is signed and the admin charges are received, MET Holding will begin working on structuring the Bid Bond by securing our bank limit.

4. Bid Bond Draft and Issuance Fee
We will send the Bid Bond draft to the client for their review and approval. The client will also be asked to pay the issuance fee in order to proceed with the transaction.

5. Issuance of Bid Bond
Once the draft is approved and the issuance fee is paid, MET Holding will instruct our bank to issue the Bid Bond on behalf of the counterparty via SWIFT MT760, ensuring that the tender is backed by a valid guarantee.

MET Holding offers a straightforward and reliable process, guiding clients through every step to secure the necessary Bid Bond and confidently participate in their bidding contest.