Bank Guarantee
MD Bank provides bank guarantee services for both MMK as well as other Foreign Currencies with cash margin.
BANK GUARANTEE SERVICES
- Bank Guarantee Issuing
- Bank Guarantee Cancellation
- Bank Guarantee Overseas Advise
- Reinstatement
Benefit
- Business activities smoothly and no worry with BG
- Reduce financial risk for beneficiary
- Enjoy prompt processing
Requirement
- Bank Guarantee Application Form
- Tender Invitation or Award or Contract for BG issue
- Original Bank Guarantee letter for BG cancellation
- Completion letter of task from beneficiary for BG cancellation
- Customer request letter to MD Bank for cancellation
Rates and Fees
| Service Description | Fees and Charges (Bank Guarantee with 100% Cash Margin) |
Fees and Charges (Bank Guarantee with Lien on Call, Savings and Fixed Deposit) |
| Guarantee Issuing | 0.25% on BG amount per 3 months or part thereof (Min. USD 50 for FCY BG and MMK 10,000 for LCY BG) + USD 10 SWIFT Charges for FCY BG |
0.5% on BG amount per 3 months or part thereof (Min. MMK 10,000) |
| Guarantee Amendment ( extension/ amount increment) |
0.25% on BG amount per 3 months or part thereof (Min. USD 50 for FCY BG and MMK 10,000 for LCY BG) + USD 10 SWIFT Charges for FCY BG |
0.5% on BG amount per 3 months or part thereof (Min. MMK 10,000) |
| Guarantee Other Amendments | USD 50 for FCY BG or MMK 10,000 for LCY BG respectively + USD 10 SWIFT Charges for FCY BG |
MMK 10,000 |
| Guarantee Advising | USD 30 for FCY BG | – |
| Guarantee Amendment Advising | USD 25 for FCY BG | – |