Advance on Contract
We provide this credit facility to tenders who have been given a contract by a contractor. This usually applies to tenders that have just joined business.
- It usually takes 2 to 3 working days to process
- Duration period of payment is 3 months
- Attractive interest rates
- Copy of the tender contract
- Guarantee i.e. house or cash collateral
- Letter of request
- Trade license
- MOU if a Company
- Copy of ID if Rwandan or passport if foreigner
1. Who is legible to this facility?
This type of facility is only for tenders.
2. How is Interest charged?
Interest is charged on a daily basis until the payment period is covered.
3. Incase I fail to make payment within the stated period, can I be granted an extension?
Yes, it can be extended. However, our corporate team usually reminds our clients to make payment and if you require an extension, its best to inform them before hand so that they can arrange this.
We also usually request that our customers give a valid reason to the Bank as to why the contractor hasn’t made payment and any other reasons required to approve your extension.
PS: if an extension is granted please be advised that it never exceeds the extension period granted to you previously.