What is Bid Bond?

Bid Bond is a service for issuing bid bonds guarantees for clients who wish to participate in tenders with government agencies and state enterprises. This service provides financing based on the value of the bid security, allowing for the issuance of bid bonds guarantees and electronic (Bid Bond & E-Bidding) to be used in government procurement (G-Procurement) tenders.

This opens up opportunities for you to continuously submit bids for various procurement projects, even simultaneously, significantly enhancing your business's competitiveness. 

 

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Why choose Lease IT for your bid bond guarantee?

  • Convenient and Fast: Easy to apply, quick guarantee approval, results within 3 days. Don't miss urgent bidding opportunities.
  • G-Procurement Support: Supports e-bidding for government procurement. Provides sufficient funding to complete projects after winning (subject to approval).
  • Increases Business Opportunities: Helps your business grow and compete.
  • No Full Cash Collateral: Unlike banks, you don't need to tie up full cash, improving your liquidity.
  • No Asset Collateral Required: Keep your assets for other uses or bank financing.​​​​​​​
  • Monthly Fees: Charges a monthly fee based on the bid bond usage period.​​​​​​​​​​​​​​​​​​​
  • Expertise and Advisory: Deep expertise in lending to SMEs working with government. Understands G-Procurement and large private company operations. Offers financial advice and guidance at every step.
  • Gateway to Other Financing: Can lead to other Leased It financing options like Project Backup Finance, Leasing & Hire Purchase, and Factoring services.

This bid bond facility is designed for:

  • Businesses bidding on projects with government agencies and state enterprises.
  • Those looking to enhance their competitive advantage against rivals.

Bid Bond Application Process

For New Applicants  

If you haven't used a credit line with Lease IT before, you can submit a loan application. The approval process takes 3 days from the date you submit all required documents.

 

For Existing Clients  

If you already have a credit line with Lease IT, you can apply for a bid bond guarantee immediately. The processing time will be no more than 3 days

 

Customers' Businesses

  • Trading Businesses: Buy and sell goods.
  • Public Utility Systems: Electrical, plumbing, CCTV, and fire protection systems for buildings and factories.
  • IT Equipment Sales and System Installation.
  • Event Management: Exhibitions, competitions, trade shows, local tourism events (Innovation Vivit).
  • Printing and Packaging Businesses: Marketing media, Point of Sale Materials (POSM).
  • Media Production: Films, video productions, TV programs, websites, applications.
  • Premium Product Manufacturing and Sales: Apparel, uniforms.
  • Building and Landscape Management: Cleaning services.
  • Manufacturing and Sales to Modern Trade: Department stores, leading supermarkets.
  • Labor Contracting: Staff, housekeepers, security guards.
  • Medical Equipment Sales and Installation: Professional tools, scientific instruments.
  • Machinery and Equipment Sales and Installation for Factories.
  • Transportation and Logistics Businesses.
  • Food Production and Sales Businesses: Seasoning powders and raw materials for industrial use.
  • Chemical Sales and Manufacturing.
  • Various Service Businesses.
  • Furniture Manufacturing and Sales: Home decor, building and office furnishings.
  • Construction Contracting: Interior decoration.
  • Vehicle and Boat Building: Automotive, commercial vehicles.

From a satisfied customer using Bid Bond with Lease IT

Watch Video

 

Khun Apirak,

Owner of an IT System Installation Business and a Weapons & Explosive Detection (X-RAY) Business

"The obstacle to expanding my business was insufficient collateral. Generally, to issue a bid bond worth 100 million baht, you need to provide collateral valued at 30 million baht. But once I got to know Lease IT, my business was able to expand quickly and seamlessly."

Applicant Qualifications

1. Experienced Entrepreneurs: Possess expertise in their respective businesses. No history of abandoning projects or being subject to claims for damages from government agencies or state enterprises.

2. Legally Registered Business Entities:

  • Limited Company (Co., Ltd.)
  • -Limited Partnership (Ltd., Part.)
  • Joint Venture
  • Consortium
  • Public Company Limited (PLC)

3. Entrepreneurs Working with Public Sector Clients: Government agencies, State enterprises, Provincial Administrative Organizations, Sub-district Administrative Organizations Local administrative organizations, Various municipalities, e.g.

Required Documents

General Company Documents

  • House Registration (of authorized signatory director)
  • Identification Card (of authorized signatory director)
  • Name/Surname Change Certificate of authorized signatory director (if any)
  • Company Registration Certificate (not older than 3 months)
  • VAT Registration Certificate (Phor Por 20)
  • Company Establishment Registration (Bor Or Jor 3)
  • Memorandum of Association (Bor Or Jor 2)
  • Shareholder List (Bor Or Jor 5)
  • Credit Bureau Report of the company and directors (if any)
  • Company Profile, such as company history and director history (if any)

Documents Showing Company Financial Status and Income

  • Bank Statements for the past 6 months
  • Financial Statements for the past 3 years (if established less than 3 years, submit available statements up to the current year)
  • Phor Por 30 forms for the past 6 months
  • Summary of Purchase Tax - Sales Tax reports for the past 6 months
  • Documents showing Performance Bond credit line with banks (if any)

Additional Supporting Documents

  • Work Completion Certificates for consideration
  • Examples of past Sales/Installation Contracts or other contracts (e.g., service agreements, copies of purchase orders, receipts)
  • Examples of new work requiring a loan (e.g., purchase orders, work acceptance forms, billing statements, current contracts)