A Letter of guarantee is an undertaking by Al Rajhi Bank on behalf of its customer to pay a certain sum of money to a beneficiary in case of default by the applicant in meeting certain terms and conditions of an agreement and contract. Al Rajhi Bank issues or advises all types of letters of guarantee, which comply with international standard, local regulations and the bank’s principles.

• Secure customers entering into bids, sales contracts, and tenders.
• Ability to track outstanding payments and orders easily.
• Fulfillment of contracts with counterparts, based on the guarantee terms.

Al Rajhi Bank issues, advises, amends, extends, and liquidates, all based on customer requests.