Reissuing Letter of Guarantee Against SBLC or Counter Guarantee

Upon receiving a SBLC or Counter Guarantee from another bank, Bank of China shall reissue the Letter of Guarantee (“L/G”) according to the provisions under the SBLC or Counter Guarantee.

Issuing of Letter of Guarantee under SBLC or Counter Guarantee

1. The correspondent bank or the affiliated bank submits an application by sending the SBLC or Counter Guarantee by SWIFT to Bank of China;
2. Bank of China examines the terms and conditions of the counter L/G and issues the bank guarantee;
3. Bank of China levy the competitive guarantee fees;
4. Bank of China close the letter of guarantee when it is expired or pays the claim under the bank guarantee if there is complying demand from beneficiary ;