Bid Bonds one hour jijenge Credit Limited number one bid bonds
Jijenge Credit Check Off Loans

Bid bonds in one Hour

  • Tender bonds are undertakings by a bank in support of a contractor/supplier bidding for a work contract.
  • Provides the beneficiary with a financial remedy if the applicant fails to fulfill any of the tender conditions.
  • Normally submitted with other documents called for in the invitation to tender and remain valid during the period of the tender plus a grace period to allow the beneficiary to make a demand.

Key elements

  • Used during the bidding stage.
  • Usually 2% to 5% of the value of the bid.
  • Used to alleviate the cost of non-performance during the contract award stage.
  • The duration of the tender usually ranges from 30 to 150 days.

Special feature of Bid Bonds one hour 

  • Unsecured up to Kshs 3 million.
  • Can be issued within one hour after receipt of a complete application.
  • Can be used at any of our Jijenge Credit Ltd branches countrywide.
  • Affordable and competitive rates are levied.

Requirements for Bid Bonds one hour