Service Description

Bank of China Johannesburg Branch can provide relevant authenticity verification services for beneficiaries who hold a letter of guarantee or standby letter of credit (hereinafter referred to as "letter of guarantee/standby LC") issued in the form of a letter by Bank of China Johannesburg Branch.

Bank Guarantee / Standby Letter of Credit Verification Process:

Application method

1.A request for a Bank Guarantee / Standby Letter of Credit verification should be presented at Bank of China Johannesburg Branch office reception counter by the beneficiary’s authorised person, together with a valid identity document, relevant authorization letter of his company and the original Bank Guarantee / Standby Letter of Credit attached, or

2.A request for a Bank Guarantee / Standby Letter of Credit verification can be sent from the beneficiary’s bank via authenticated SWIFT message to Bank of China Johannesburg Branch (SWIFT code: BKCHZAJJ), which includes the Bank Guarantee / Standby Letter of Credit Reference Number, Currency and Amount, Date of Issue, Beneficiary Name, Applicant Name and Expiry Date if applicable.

3.If the application methods at point 1 or 2 cannot be followed due to special circumstances, please call our bank's customer service hotline (+27) 11 520 9600 or send an email to trade.za@bank-of-china.com. Our bank will promptly respond to whether it can be processed and the specific processing procedures.

Verification result notification method

Once Bank of China Johannesburg Branch has received the request for a Bank Guarantee / Standby Letter of Credit verification the following process will be followed:

1. If the request is received at the Bank of China Johannesburg Branch office reception counter our bank will reply with the verification results in the form of a formal bank letter signed by the bank’s two authorized signatories, and submit it to the authorized person over the counter or deliver it to the beneficiary by registered/express mail or similar delivery method;

2. If the request is received via authenticated swift, an authenticated swift will be sent to the requesting bank to confirm the Bank Guarantee / Standby Letter of Credit details within 7 working days.

Bank of China Johannesburg Branch will not send personal letters through employees' personal mailboxes that have not been signed by the authorized signatory, nor will we verify the authenticity of letters of guarantee/certificates verbally.

Indemnity for Liability Instruments:

All liability instruments (including without limitation, Advance Payment Guarantee, Performance Bond, Bank Guarantee, Bid Bond, Bid Security, Standby Letter of credit, amongst others), issued by Bank of China Johannesburg Branch is required to be verified in accordance with the verification process provided for, that is, by written verification or swift verification, before any reliance can be placed on such instrument by any beneficiary or any other party.

Bank of China Johannesburg Branch shall not be liable to any party or beneficiary for any claims, loss, damage, costs, and expenses of whatever nature (whether direct or indirect) suffered as a result of reliance placed on an unconfirmed instrument or unverified instrument or an instrument purported to be issued by the Bank.