At the request of the applicant, OCBC China issue a written guarantee document to the beneficiary to ensure that when the applicant fails to perform an obligation to the beneficiary as stipulated in the guarantee, the guarantee bank will assume the relevant responsibilities specified in the guarantee.
OCBC China guarantees are available in the following categories to facilitate customers to enhance their credit and open up trade opportunities: Payment Guarantee、Tender Guarantee / Bid Bond、Performance Guarantee、Advance Payment Guarantee、Maintenance Guarantee、Quality Guarantee、Customs Guarantee, etc.
In addition, the Financing Secured by Domestic Enterprises is a type of cross-border financial guarantee provided for domestic enterprises investing abroad. Under this service, on the basis that the domestic enterprise (the Applicant) presents the unconditional and irrevocable counter guarantee to OCBC China, we issue a letter of guarantee or standby letter of credit to an overseas branch or correspondent bank (the Beneficiary) for a wholly-owned subsidiary (the Borrower) or affiliate of this enterprise; the overseas branch or correspondent bank then offers financing to the Borrower. It helps facilitate domestic enterprises “go-out”, overcome the difficulties of liquidity management and support the daily operation needs of their overseas enterprises, as well as reduce the cost of capital occupation.