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I. Introduction
This is a written guarantee issued by ICBC to tender, as requested by the bidder (Applicant for the Guarantee). ICBC indemnifies the loss of tender or the amount covered by the guarantee in the event that the bidder withdraws the bid during the tender, or fails to enter the contract and to pay performance security after the receipt of the notification of tender award.
II. Features
Improve your company's credibility to the tender and assist you bid the tender.
III. Target Client
When you receive the tender document, provide the required bank guarantee and decide to bid.
IV. Operation Guide
Following materials are required:
1. Application Form stamped with official seal.
2. Trade Contract.
3. Sign Guarantee Opening Agreement with ICBC.
4. Photocopy of Business License for companies that apply for ICBC Letter of Guarantee for the first time.
V. Application Conditions
1. Your company must be rated by ICBC with an approved credit line.
2. You must pay a percentage of margins as ICBC stipulates.
3. To ensure the smoothly execution of your program, ICBC will continue to offer services about performance guarantee or quality/maintenance guarantee.
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