Retention Money Guarantee

Retention Money Guarantee (RMG) covers the due performance of the contractor in the maintenance period and is used to release the retention monies.

COVERAGE

Ensures that the contractor utilizes the advance payment for the mobilization of the contract according to the terms and conditions of the contract without failure.

Main Covers

  • Company/SP Profile & Portfolio (including MOA & AOA & Registration)

  • Audited financials past 2 year / past 6 months bank statement (Depending on bond value)

  • Project Completion Letter

  • Board Resolution

  • Counter Indemnity Agreement

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