I. Introduction Acting as an Advising Bank, ICBC advises your company on the arrival of overseas letter of guarantee after verification.
II. Features It serves as a communication bridge between your company and the outside world. It helps your company to tell whether the guarantee is a true document or not, check the credibility of the guarantor and clarify the payment liability of the guarantor and principal.
III. Target Client ICBC sends the guarantee timely to your company upon receipt of the message from overseas.
IV. Operation Guide No need to submit any documentation.
V. Application Conditions 1. Pay attention to the political and economic situation of the country/region where the guarantee is sent. 2. Take a closer look on the credibility of the Guarantee Bank. 3. Check if the term on the claim is a soft term, and whether it's acceptable or not. 4. Your company may use ICBC inward remittance service when receiving remittance against payment guarantee or deferred payment guarantee. 5. To protect your company's interest rate risk, entrust ICBC to claim against the guarantee. 6. To help your company lock down the exchange risk, ICBC offers services in settlement and sales of FX and FX trading for your trading currency.