If the First Bank often supports you by placing at your disposal funds in the form of cash credits, it can also grant you assistance in the form of commitments by signature. These will enable you either to defer some payments, avoid them or better still, speed up cash inflows.

The most common commitments by signature offered by the First Bank are:

Customs, tax and legal guarantees (clearance credits, Temporary entry, transit bond, customs duty bills, guarantee for contested taxes, consignment guarantee …)

Within the framework of your import activities, it often happens that you wish to clear your goods from the customs services without having to wait for the payment of customs duties. However, the customs department demands that you present a bank guarantee known as clearance credits.

You often import material that has to be re-exported within a certain deadline. In this case, it concerns temporary importation and as such, you are exempted from the payment of customs duties. The customs Department, to ensure that you will fulfill your obligation that is, effectively re-export this material within the pre-established deadline, asks you to provide a bank guarantee for temporary administration.

If you are based in a neighbouring country or you have customers there. You import goods that have to transit through the national territory on behalf of your representation or for your customers based in a neighbouring country. Given the fact that these goods do not have as final destination the national territory, you are exempted from the payment of customs duties. However, to ensure that these goods will effectively leave the territory at the border indicated on your declaration, the customs department will ask you to provide a bank guarantee for temporary entry.

Most often, it happens that you solicit a deadline from the taxation department for the payment of your taxes and various duties (VAT for instance). To ensure that you are going to fulfill your obligations within the stipulated deadline, the taxation department asks you to provide a bank commitment.

You may not also agree with the taxation department on the amount of your taxes. While waiting to find a solution, tax authorities generally ask you to provide a bank guarantee known as guarantee for contested taxes. .

You have a litigation pending in court. You are often asked to pay summons fees or failing that, provide a bank guarantee called summons deposit.

Contract guarantee (bid bond, performance bond, advance refunding bond and holdback bond).

Once declared the successful bidder of a contract, the contracting authority wants to ensure that you will execute the contract for which you are the successful bidder right to the end. You are asked to provide a guarantee known as Performance Bond. This guarantee shall come to annul the bid bond.

To enable you to start the work, the contracting authority often has to give you an advance. To ensure that this advance will be used judiciously, he asks you to provide a bond called advance payment or take-off advance payment bond.