When you honor the obligations or promises set in the business or trade contract, you want the bank to act as a guarantor to promise the other party that the bank will repay the debt or be held accountable if the contract has been breached. If you have such demand, please come to CCB to apply for the service.
You can come directly to the CCB branches to apply for Letter of Guarantee. CCB’s agent bank network covers the globe, and can issue the Letter of Guarantee to any place in the world.
CCB can provide guarantee service for bidding, contracting, fulfilling, collection (payment) in advance, project repairing, quality, processing of supplied materials and assembling of supplied parts, compensation trade, repayment, delayed payments, paying by installments, spare fund for inbound/outbound travel, property maintenance, entrusted banking service, etc.
Generally speaking, the guarantee service accepts RMB and convertible foreign currencies, including US dollars, Japanese yen, HK dollars, euros, etc. Term of the service can be negotiated according to the business practice.
Charges include service charges for opening of the Letter of Guarantee, and the Letter’s notice. They will be collected according to rules issued by People’s Bank and CCB.