In order to secure a CRB guarantee from the fund, the following procedures apply:

The contractor should make an application to CRB using standard application forms giving details on the tender / contract and value of the guarantee required.

CRB will scrutinize the application taking into consideration the conditions specified in the eligibility criteria specified above.

If satisfied, CRB will sign an agreement with the applicant using the standard format .

The applicant will have to pay to CRB the nominal fee equal to 0.2% of the guaranteed amount.

The CRB will then write to the Bank, a letter of authority (CRB\FIN\014), authorising the bank to issue a Bank guarantee to the contractor under the Terms and conditions of the said Tender or contract.

To avoid cases of being misused by contractors, it is specified that any contractor who fails to perform under the terms of the contract / tender and hence occasion loss to the fund shall be required to refund such money to the Fund within six months failing which the contractor shall be deleted from the contractors register. Such deletion shall not relieve the contractor from the obligation to refund the money due. The defaulter will also be prosecuted in the courts of law.