Letter of Guarantees through Etimad
This service enables customers from both private and government sectors to manage their letter of guarantees in a single platform throughout an integration between Saudi Banks and the Government Tenders and Procurement System.
The Saudi National Bank is supporting letter of guarantee service through Etimad platform, where SNB has clearly positioned itself as one of the earliest banks in integrating with such a service. This comes with our directions of supporting the Saudi Vision 2030 of promoting the digital transformation, improving work efficiency, and increasing projects effectiveness towards fulfilling the needs of the national economy.
This service directly contributes in facilitating the operational procedures, verifying financial transactions for government organizations, and uplifting the transparency in government tendering process by integrating it with the banking sector to provide the following services digitally:
- Applicant Services:
- Issuance of letters of guarantee
- Government Beneficiaries' Services:
- Cancelling letters of guarantee; including auto-cancellation for excluded bid bond LGs after awarding the tender.
* For more information, please visit Etimad website https://portal.etimad.sa/en-us or download the user manual.