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Ableways KYC Policy for Bid Bonds

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Ableways International Limited provides bid bonds, performance bonds and advance payment guarantees to suppliers and contractors tendering in Kenya and around the East Africa region. We officially welcome you to our blog where we share with our customers and the general public. In this post, we would like to handle what requirements there are for companies wishing to do business with us.

As you are all aware, there is a global new law of combating money laundering and terrorism and the U.S is leading this through the Patriots Act. In Kenya, this law is called ” Proceeds of Crime, Terrorism and Anti Money Laundering Act” Chapter 59B of the Laws of Kenya. It is now a mandatory requirement that all banks and financial services companies maintain a strict KYC (Know Your Customer) documents. These KYC documents have always been a requirement even for banks from their customers. In line with KYC requirements, Ableways International Limited will require to maintain all statutory documents of their customers. This assist us during auditing. The KYC documents are the first line of documents a client will be required to provide these documents on first engagement. Any customer looking for a bid/tender security in form of a bank guarantee (bid bond) will be required to provide:

  • Copy of incorporation
  • Copy of PIN/VAT
  • Copy of memorandum and articles of association
  • Copies of IDs or Passports and PINs of all directors
  • Copy of City Council license
  • Company profile

When Ableways gets these documents for customers applying for a bid bond/bid security/tender security, we will usually store them confidentially and securely in line with our company’s brand promise. For the reason that we are a signature financial solutions provider, we have enabled each and everyone to upload these documents online on our website. Bidders wishing to work with us will be able to create a bidder’s account.  Our website is secured with the top-of-the class, weapons-grade military encryption, assuring our customers that their documents cannot be accessed by unauthorized third parties. Additionally, bidders can be able to apply for bid bonds online anywhere in the world.

We welcome all bidders/tenderers to talk to us today about their bidding needs so that we can assist them to secure bid securities for their tenders. We offer the best pricing coupled with fastest turnaround, besides having a variety of banking partners from whom to choose from. Kindly talk to us today

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