Standard Chartered Bank (China) Limited provides Guarantee/Standby LC issuance based on our clients' application as a written undertaking from SCB to the beneficiary stating to the effect that the Bank will pay the beneficiary a certain sum of money upon presentation of a written demand for payment and such other documents in conformity with the terms of the undertaking as may be specified in the Guarantee & Standby LC.
In the past year, Standard Chartered China has provided guarantee/standby letter of credit services to more than 600 companies, serving customers in 142 sub-sectors. The annual transaction volume reached more than 5,000, with a total transaction amount of nearly USD1.6 billion. Our clients are mainly from construction, electrical machinery and equipment, insurance and reinsurance industries industries, etc.
- Helps you to secure a business contract by such undertaking
- Helps you to facilitate the contracting business from end-to-end: starting with a bid bond, advance payment guarantee, performance bond till retention / warranty bond, etc.
- Advance Payment Guarantee can be used to replace cash in advance: Payment Guarantee is commonly used in the open account trade, for buyers to provide payment assurance to their suppliers
- Diversifies banking facility management especially for Group Company: Financial Guarantees assure lenders of prompt repayment of indebtedness. This is often used by parent companies to assist their overseas subsidiaries to obtain credit facility support in their places of domicile
- One-Stop Guarantee Service: Standard Chartered Bank’s extensive global footprint with key focus in Africa, Middle East and Asia ensures a solid on-the-ground support for your Belt & Road projects
- Standard Chartered China has capacity to support you on Customs Guarantee request (including e customs guarantee)
For more information, please contact your relationship manager, transaction banking sales consultant, or visit sc.com/cn
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