A Bank Guarantee is an instrument issued by a Bank whereby it guarantees the beneficiary for the non-performance of the contracted activity by the applicant in financial terms. These could be to protect the beneficiary from the financial losses due to non-performance by the applicant or non-payment of any financial dues. MBI issues the following types of guarantees on behalf of its customers :

• Performance Guarantee
• Advance Payment Guarantee
• Shipping Guarantee
• Bid Bond Guarantee / Earnest Money Deposit /Security Deposit
• Deferred Payment Guarantee
• Standby Letter of Credit

Such guarantees may be issued in favour of local beneficiaries as well as overseas through our Correspondent Banks and in Indian Rupees as well as foreign currency.