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The Bank Guarantee For Tender is a crucial document in Saudi Arabia's business and procurement landscape, particularly in government and large-scale private sector projects. It is required when companies participate in formal tenders, serving as a financial security instrument that protects tender issuers against non-serious bidders or participants who might withdraw their bids. The guarantee must comply with Saudi Arabian Monetary Authority (SAMA) regulations, Saudi law, and Sharia principles, making it distinct from conventional bank guarantees in non-Islamic jurisdictions. The document typically specifies a guarantee amount (usually 1-5% of the tender value), validity period, and conditions for claim. It's particularly important in sectors like construction, infrastructure development, and government procurement, where substantial contracts are awarded through competitive bidding processes.

1. Bank Details and Reference Number: Full name and address of the issuing bank, and the unique guarantee reference number

2. Beneficiary Details: Full name and address of the entity issuing the tender

3. Principal Details: Full name and address of the tender participant for whom the guarantee is issued

4. Tender Reference: Clear identification of the tender project, including tender number and title

5. Guarantee Amount: The amount of the guarantee in both figures and words, including currency

6. Purpose of Guarantee: Clear statement that this is a tender guarantee and its intended purpose

7. Validity Period: Clear specification of the effective date and expiry date of the guarantee

8. Terms of Payment: Conditions under which the guarantee amount will be paid to the beneficiary

9. Governing Law Declaration: Statement that the guarantee is governed by Saudi law and Sharia principles

10. Authorization and Signature: Bank authorized signatory section with official stamp