IREPS · HOW-TO

How to Get Performance Bank Guarantee for IREPS Contract

Arranging a PBG takes real lead time, so starting the process as soon as you know one will be required protects your contract timeline.

5 min read Action Guide By LeegAl Advisory Team

Arranging a PBG takes real lead time, so starting the process as soon as you know one will be required protects your contract timeline.

How To Approach This

Confirm the exact PBG amount and validity period required by your specific contract terms, since these vary by contract value and type.
Approach your bank promptly once you know a PBG is required, since banks typically need their own documentation and processing time before issuing one.
Submit the PBG to the procuring authority within the timeframe specified in your contract terms, since delay here can jeopardize the contract itself.
Track the PBG's validity period through the contract's duration and renew proactively rather than letting it lapse mid-contract.

How long does arranging a PBG typically take?

This depends on your bank and existing relationship — starting immediately once you know it's required is the safest approach.

What happens if a PBG lapses mid-contract?

This creates a compliance gap that should be avoided through proactive tracking and timely renewal.

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