Financial services
Bank guarantees in contracting and supply deals
Set the required guarantees on a tender, purchase order or subcontract, receive the guarantee letter from the other party, and track its validity, extension and release in the deal file itself.
Available in the dashboard
- Four common guarantee types
- Visible to the deal parties only
- Reminders before expiry
Supported guarantee types
For each type the buyer sets a percentage of the deal value or a fixed amount, and the required validity.
Bid bond
Submitted with the bid on a tender or RFQ to show the bidder is serious.
Performance bond
Provided after award to secure delivery or execution under the agreed terms.
Advance payment guarantee
Covers an advance the buyer pays before work or supply starts.
Retention / maintenance guarantee
Replaces amounts retained from progress claims or covers the maintenance period.
How guarantees work on Ataam
The buyer sets the requirement
On the tender, RFQ, purchase order or subcontract: type, percentage or amount, and validity.
The other party uploads the letter
The contractor or supplier uploads the letter: bank, amount in SAR, issue and expiry dates, and a PDF copy.
Accept or reject
The buyer reviews the letter and accepts it or rejects it with a reason — all recorded on a timeline.
Follow-up until release
Reminders before expiry, extension requests, then release of the guarantee or recording a claim.
What your company gets
One follow-up board
What awaits your action, what expires within 30 days, and the guarantees in force and their value.
Deal privacy
The letter and its file are visible to the deal parties only.
Full history
Every upload, acceptance, rejection, extension and release is recorded with its date.
Linked to the deal
Guarantees appear on the tender, purchase order or contract page itself.
Request from partner banks Coming soon
Send a guarantee issuance request straight to a partner bank from the deal.
Who issues the guarantee?
Your bank issues the guarantee letter as usual; Ataam is where you set the requirement, receive the letter and track it. Requesting issuance directly from partner banks through the platform is coming soon.
Partnerships
For banks: receive guarantee requests from the platform
We are onboarding partner banks to receive issuance requests linked to verified deals on Ataam. Contact us to discuss a partnership.
Frequently asked questions
Which bank guarantee types does Ataam support?
Bid bonds, performance bonds, advance payment guarantees, and retention or maintenance guarantees.
On which deals can a guarantee be required?
On tenders, RFQs, purchase orders and subcontracts. The buyer sets the requirement and the other party uploads the letter.
Does Ataam issue the guarantee letter?
No. The bank issues the letter; Ataam organises requesting, receiving and tracking it inside the deal. Requesting issuance from partner banks through the platform is coming soon.
Who can see the guarantee letter?
Only the parties to the deal: the buyer and the contractor or supplier concerned.
How do I know a guarantee is about to expire?
The platform sends a reminder before the expiry date, guarantees expiring within 30 days are highlighted on the guarantees board, and an extension can be requested from the guarantee page.
Related pages
Get started on Ataam
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