IwacuFinance Guarantees is an online application to facilitate corporate companies and individuals to confidently bid for reputable public or private institutions' bidding proceedings, or companies qualified as successful bidder by providing an irrevocable promise that the liabilities of a debtor will be met in the event that the bidder fails to fulfill contractual obligations.

Navigate to the top navigation bar and locate the "Register" option. During registration, you'll provide your Company name, phone number, and create a password. These details are essential for creating your account and ensuring secure access.

Bid security is a form of guarantee provided by a bidder in a procurement process to demonstrate seriousness and ability to fulfill the terms of the bid or contract if awarded.

Product Presentation

IWACU FINANCE Ltd provides BID SECURITY in the format of unconditional bank guarantee for real estate contracts and infrastructure projects to facilitate companies to confidently bid for public or private institutions' bidding proceedings.

Eligibility

1. Tender reference (Tender Number, Bid Security Validity)
2. Proof of upfront payment of non-refundable commission of 2%+VAT of the Bid Security Value

A performance guarantee is a financial assurance provided by a contractor or supplier to the project owner as a guarantee of fulfilling contractual obligations in accordance with the terms of the agreement.

Eligibility Requirements

1. Performance amount
2. Issue Date / Effective Date
3. Expire Date
4. Audited Financial statements (at least 2 years)
5. Request letter
6. Signed and notarized board/shareholder resolution
7. Valid Tax clearance certificate
8. Latest full RDB registration certificate
9. Bank Statement for one year
10. Copy of Managing Director ID or passport
11. Collateral covering PG at 100%, or 30% cash cover
12. Proof of upfront payment of commissions (2%+VAT per quarter)

An Advance Payment Guarantee (APG) assures the recipient that if the contractor fails to fulfill obligations, the advance payment received will be reimbursed.

Eligibility Requirements

1. Bank Account name and number
2. Advance Guarantee Amount
3. Issue Date and Expire Date
4. Audited Financial statement (at least 2 years)
5. Signed and notarized board/shareholder resolution
6. Valid Tax clearance certificate
7. Copy of final notification letter as successful bidder
8. Copy of signed contract
9. Full registration certificate
10. Updated Tax clearance certificate
11. 100% cash collateral of the requested APG value
12. Proof of upfront payment of 7%+VAT commission

You must have a tender reference number and a registered account. Navigate to Applications → Bid Security and select Umucyo Listing as your tender type. Input your tender reference number to search for tender information. If available, bid security amount and fees will be shown.

Click Submit and choose your payment option (Bank or Momo code). Once submitted, you'll receive a notification. Our team will process your application and notify you at each approval step.

Last Updated: 24/12/2024

Welcome to Iwacu Finance! These Terms and Conditions govern your use of our online services. By accessing or using our services, you agree to be bound by these Terms.

Services: Bid Security, Credit Line, Performance, and Advance Payment Guarantees.

Eligibility: Must be a legally recognized entity, provide accurate information, and comply with applicable laws.

Fees: Determined by guarantee type and tender value. Payment required in full before issuance. Non-refundable unless stated in writing.

Client Obligations: Provide truthful information, comply with guarantee terms, notify of changes, and repay claimed amounts promptly.

Liability: Limited to the value of the guarantee issued.

Contact: info@iwacufinance.com | +250 788 376 370 | KBC, KN 3 AVE, Kigali