Labour Guarantee

Overview

  • Applicable for both AWFC & non AWFC account holders.
  • No minimum LOB required
  • Cash margin equal to 100% of the guarantee amount.

Labour Guarantee (LG) is an open-ended (auto renewable) Guarantee against 100% margin. It is issued electronically through the e-registration module of the Ministry of Labor and Social Affairs.

Fees and Tariffs

Issuance Charges  
Free of charges, However, MoF charges will be applicable.  
Renewal Charges  
Free of charges, However, MoF charges will be applicable  
Cancellation Charges  
AED 25/- per guarantee  
Amendment Charges  
AED 25/- per guarantee  

Eligibility

Applicants must be:

  • - Private companies based in the UAE, maintaining legal existence entity.
  • - Applicable for both AWFC and non-AFC account holders.

Terms and Conditions

Terms & Conditions Apply.

Al Wifaq reserves the right to change the profit rates, fees and tariffs, charges and terms and conditions at its own discretion, without any prior notice.

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