Gain An Edge with Bid and Performance Guarantees

When bidding to design, build or manage projects across Canada or around the world, your firm’s credibility depends on proving your firm’s financial integrity and ability to meet deadlines. Rather than tying up capital with cash deposits, or insuring your work with complex surety bonds, consider this simple, effective alternative: bid and performance guarantees through Royal Bank of Canada.

Bid and performance guarantees provide your clients with an irrevocable commitment and guarantee of cash compensation in the event that contractual obligations aren’t met.

“We first began expanding outside of North America around 1990 and these markets now represent 70% of our sales. For an international company like ours, RBC letters of guarantee are extremely important & – we really couldn’t operate without them. ”

– Mirek Planeta, President, Macro Engineering & Technology Inc., Mississauga

In this guide, you'll learn about:

• Types of bank guarantees: bid, performance, other
• Benefits of using a bank guarantee
• Using guarantees to protect your own firm
• When to use a surety bond or guarantee