Description

Reissuing of Guarantee Against Counter Guarantee services are provided by Bank of China Limited Macau Branch. Upon receipt of a counter guarantee from another bank, Bank of China is designated as the reissuing bank, to issue various of types of guarantee on behalf of a designated party and in favor of a local based company or institution as the beneficiary.

Features

1. Fulfill the beneficiary’s demand for obtaining a guarantee issued by a local bank;

2. Avoid credit risks of foreign banks;

3. Protect the interests of local companies and institutions better with high efficiency for making claim under letter of guarantee.

Application Qualifications

1. The corresponding bank has established correspondent relationship with Bank of China Macau Branch;

2. The instructing bank and the applicant shall maintain good credit standing and no adverse record;

3. The applicant shall possess transactions that meets Bank of China's requirements on compliance;

4. The instructing bank shall provide a completed counter-guarantee with clear terms and instructions which protects Bank of China's rights and interests.