OverviewA Letter of Guarantee (LG) is an irrevocable commitment issued by SIB on behalf of a client to guarantee the fulfillment of contractual obligations. If the client fails to perform, SIB pays the agreed amount to the beneficiary under the specified conditions. Features & Benefits Risk Mitigation Protect both parties in the event of contract breach or default. Customizable Formats Adapt formats to suit different industries and contractual obligations. Local & International Coverage Apply coverage across domestic and cross-border transactions. Strengthened Partnerships Build trust and long-term relationships with global suppliers and buyers through secure, transparent trade. Types of Guarantees Once the form is filled, please print it and submit it to your nearest branch. Request a Letter of Guarantee Bid Bond Ensures the bidder will honor their bid and sign the contract if awarded. Performance Protects the buyer if the supplier fails to meet contract performance obligations. Advance Payment Secures the buyer’s advance payment until goods or services are delivered. Payment Assures the seller of payment in case the buyer fails to fulfill contractual terms. Retention Replaces retention money and ensures rectification of any post-completion defects. Warranty Guarantees product or service performance during the warranty period. Customs Covers customs duties and taxes when goods are cleared without upfront payment. Zakat Provides a financial commitment for due Zakat payments as required by authorities. Get in Touch with Our Trade Finance Solutions Team Find us, get in touch, and don’t hesitate to ask for assistance. Phone Number +966 XX XXXXXXX Email customer_service@saib.com.sa Already Have a Letter of Guarantee? Verification of LG Instantly confirm the validity of a Letter of Guarantee issued by the Bank to ensure it is genuine and active. View Form Authentication of LG Obtain official attestation from the Bank certifying that a Letter of Guarantee is valid, binding, and recognized for formal use. View Form We’re Always Within Reach Stay connected to your banking, through our customer care team, digital channels, and branches everywhere. Customer Care Submit inquiries, raise complaints, and access support anytime. /en/customer-care Corporate Offices Explore our corporate head-quarters and regional offices across the Kingdom. /en/business/corporate-banking-services/corporate-offices E-Banking Services Bank smarter and faster with our secure digital platforms. /en/e-banking-services