1. Letter of Guarantee Notification

BOC can act as the notifying bank of letters of guarantee, informing clients of various types of letters of guarantee issued either by mail or electronically, verifying the authenticity of the letters, and timely delivering the original documents, any amendments, and related correspondence to the clients.

2. Letter of Guarantee Transfer

BOC can transfer various letters of guarantee to the beneficiary for the applicant on the basis of the letters of counter-guarantee issued by financial institutions. The letters of guarantee issued by BOC provides credit enhancement support for the letters of guarantee issued by foreign or non-local banks and their clients, and are widely accepted by beneficiaries all over the world, helping clients overcome challenges related to unfamiliarity with cross-border or non-local trading partners.

3. Verify Authenticity of Letter of Guarantee on Behalf of Clients

On behalf of the client, BOC can verify the authenticity of letters of guarantee issued or notified by other banks. The service includes confirming any amendments or cancellations of the letter of guarantee with the issuing bank.

4. Claim on Behalf of Clients

BOC, on behalf of the client, can lodge a compensation claim against the guarantor bank under the letter of guarantee for the client as the beneficiary or the assignee, and transmit the compensation claim documents to the guarantor bank in a complete and accurate manner.