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Non Fund Based Services
Bank of Baroda offers non-fund based products to its clients as follows:
- Letter of Credit: We offer import as well as domestic letter of credit facility to our clients for procurement of goods on DA/DP basis as per their needs at very competitive rates. Considering our international network of branches/offices coupled with worldwide correspondent relationship arrangements, our clients enjoy market acceptability and comfort in business deals.
- Bank Guarantee: We offer bank guarantee facility to our clients guaranteeing their performance/financial obligations in the domestic as well as international market.
- LC Advising/Confirming Services: In case of letters of credit received by our clients, we offer LC advising as well as LC confirmation services under our correspondent relationships with domestic as well as international banks.
- Co-acceptance facilities: Sometimes in business deals on credit basis, buyers are required to offer adequate comforts to the sellers such as bank guarantee or co-acceptance of bills by the bankers. Bank of Baroda offers co-acceptance of bills facility to the top rated clients.
- Bank assurance: Bank of Baroda has tie-up arrangement with National Insurance Company (NIC), under which we arrange for issuance of general insurance policies to our clients thereby taking away their worries of timely and adequate insurance cover of the assets.
- Solvency Certificate: We provide solvency certificate to our clients in case it is required for providing to government authorities, other corporates in business deals, bids, etc.
- Credit Reports: We provide credit reports on our clients to other banks/financial institutions and we also obtain credit information required by our clients on their counter parties, through our correspondent relationship.