Bank Guarantees (Preconstruction)
The Bank Guarantees screen in the Preconstruction module manages bank guarantee requests and issued guarantees related to tenders and contracts. When submitting a tender, clients often require a bid bond or tender guarantee as a condition of participation. Once a contract is awarded, performance guarantees and advance payment guarantees may also be needed. This module tracks the full lifecycle of these financial instruments from initial request through issuance, renewal, and release.
This screen is distinct from the Finance → Bank Guarantees module, which handles the accounting and financial tracking aspects. The Preconstruction view focuses on the operational workflow: raising requests, tracking approvals, and monitoring expiry dates in the context of business development activities.
Requests
The Requests tab lists all bank guarantee requests that have been raised. A request is created when a tender or contract requires a bank guarantee to be submitted. The following columns are displayed:
| Column | Description |
|---|---|
| Request No. | A unique auto-generated reference number for the guarantee request. |
| Tender / Contract | The tender or contract for which the bank guarantee is required. |
| Customer | The customer or authority to whom the guarantee will be issued. |
| Guarantee Type | The type of guarantee: Bid Bond, Performance Guarantee, Advance Payment Guarantee, or Retention Guarantee. |
| Amount | The value of the bank guarantee being requested. |
| Required By | The date by which the guarantee must be issued and submitted to the client. |
| Status | Request status: Draft, Submitted, Approved, Issued, or Rejected. |
Guarantees
The Guarantees tab shows all bank guarantees that have been issued by the bank. Once a request is approved and the bank issues the guarantee, it is recorded here with its full details:
| Column | Description |
|---|---|
| BG Number | The bank guarantee number as issued by the bank. |
| Bank Name | The issuing bank's name. |
| Guarantee Type | Type of guarantee (Bid Bond, Performance, Advance Payment, Retention). |
| Tender / Contract | The linked tender or contract reference. |
| Customer | The beneficiary of the guarantee. |
| Amount | The face value of the issued guarantee. |
| Issue Date | The date the bank guarantee was issued. |
| Expiry Date | The date the guarantee expires. The system tracks this for renewal alerts. |
| Status | Guarantee status: Active, Expired, Released, or Claimed. |
Calendar
The Calendar view provides a visual timeline of all bank guarantee expiry dates and key milestones. This helps the finance and preconstruction teams proactively manage upcoming renewals, releases, and deadlines. Guarantees nearing expiry are highlighted, and clicking on a calendar entry opens the guarantee detail.
Creating a Bank Guarantee Request
Follow these steps to raise a new bank guarantee request:
- Navigate to Preconstruction → Bank Guarantees.
- Switch to the Requests tab and click Add +.
- Select the related Tender or Contract from the dropdown.
- Choose the Guarantee Type (Bid Bond, Performance, Advance Payment, or Retention).
- Enter the Amount and Required By date.
- Add any supporting notes or attachments.
- Click Save to create the request in Draft status.
- Submit the request for approval through the configured approval workflow.
Recording an Issued Guarantee
Once the bank issues the guarantee, update the record:
- Open the approved request and click Record Issuance.
- Enter the BG Number, Bank Name, Issue Date, and Expiry Date.
- Attach a scanned copy of the guarantee document.
- Click Save. The guarantee now appears in the Guarantees tab with Active status.