Bid Bond
Client Success Story – Powered by BlackRock Bank Broker LLC

A developer was awarded a contract that included an advance payment. Before funds could be released, the client was asked to provide a financial guarantee to secure the payment.

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Our Solution
  • Instrument Issued:  Advance Payment Guarantee (APG) – MT760
  • Purpose:   To secure the advance payment and assure proper utilization
  • Approach:  BlackRock Bank Broker arranged the APG through one of our issuing banks, enabling the client to proceed without placing any financial hold.
The Outcome:

The advance was released without delay, allowing the client to begin operations immediately. The guarantee provided the necessary assurance to all parties involved.