Reissuing Letter of Guarantee Against Counter Guarantee
Product Name
Reissuing Letter of Guarantee Against SBLC or Counter Guarantee
Product Description
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.
Product Features and Benefits
Issuing of Letter of Guarantee under SBLC or Counter Guarantee
Procedures
- The correspondent bank or the affiliated bank submits an application by sending the SBLC or Counter Guarantee by SWIFT to Bank of China;
- Bank of China examines the terms and conditions of the counter L/G and issues the bank guarantee;
- Bank of China levy the competitive guarantee fees;
- 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 ;
Bank Guarantee Authenticity Confirmation
Request regarding the authenticity confirmation of the Bank Guarantee and/or Standby Letter of Credit (SBLC) issued by Bank of China (Hong Kong) Limited Jakarta Branch (“Bank”) can be submitted by (1) Official Letter or (2) Request via SWIFT by providing the related Bank Guarantee and/or SBLC data (“Related Data”), including:
- Bank Guarantee and/or SBLC reference number
- the issuance date of the Bank Guarantee and/or SBLC
- Applicant name and address
- Beneficiary name and address
- currency and amount of the related Bank Guarantee and/or SBLC
(1) Official Letter
Official letter is sent to the Bank Address using the company letterhead and signed by the Beneficiary's authorized person by including the Related Data.
Bank Address:
Attn. Trade Finance Department
Bank of China (Hong Kong) Limited Jakarta Branch
Tamara Center 10th Floor
Jl. Jend. Sudirman Kav. 24, South Jakarta 12920, Indonesia
Tel : +6221-5205502
- Bank will check and process the related request immediately after receiving the Official Letter from the Beneficiary’s address.
- Bank will issue Letter of Authenticity Confirmation signed by Bank’s authorized personnel.
- Letter of Authenticity Confirmation will be sent to the Beneficiary’s address or according to the instructions in the Official Letter.
(2) Request via SWIFT
- Request is sent from Beneficiary’s Bank to the Bank via authenticated SWIFT by including the Related Data.
Bank SWIFT Code: BKCHIDJAXXX
- Bank will check and process the related request immediately after receiving the SWIFT request from the Beneficiary’s Bank.
- Bank will provide the Authenticity Confirmation to the Beneficiary’s Bank via authenticated SWIFT.