国际结算chapter 8-letter of guaranteeslc.ppt

Chapter Eight Guarantees and Standby Letters of Credit Letter of Guarantee 8.1 Letter of Guarantee 8.1.1Definition A bank guarantee is a unilateral contract between a bank as guarantor and a beneficiary as warrantee, in which the bank undertakes to make payment to the beneficiary within the limits of a stated sum of money if a third party fails to perform an obligation. 8.1 Bank Guarantee 8.1 Bank Guarantee Basic Parties: Applicant -- the party that requests a bank to issue a bank guarantee. Beneficiary -- the party in whose favor a bank guarantee is opened and who has the right to claim for compensation in accordance with the terms and conditions of the guarantee Guarantor -- the bank that issues a letter of guarantee at the request of its customer. Advising or transmitting bank -- a bank in the beneficiary’s place that notifies or transmits the guarantee to the beneficiary. Letter of Guarantee Some commonly used guarantees Bid bond 投标保函 Performance bond 履约保函 Advance payment bond 预付款保函 Repayment guarantee 还款保函 Overdraft guarantee 透支保函 Import guarantee进口保函 Loan guarantee 贷款保函 Leasing guarantee 租赁保函 Retention bonds 留置金保函 Both based on bank credit Differences: Application； Liability of a Bank； Requirement on Documents； L/G can not be Transferred； 银行保函运用实例 我国文具生产企业A公司，参与非洲某国教育部的委托文具招标后，收到了中标通知书。A公司于是向中国银行申请开立履约保函。中国银行审核中标通知书及有关资料后，建议A公司联系受益人进行以下修改： （1）原标书规定的保函金额为合同金额的20％，比例过高，建议降到10％以下。 （2）原标书、合同规定允许分批装运，建议在保函中随申请人履约情况按照比例予以递减。 （3）原标书规定中标方接到中标通知书后就出具银行保函，同时与买方签订合同，买方根据合同开立延期付款信用证。中国银行建议A公司与买方商议，先签订合同，在接到信用证后再开立履约保函。 在签订合同并收到信用证后，A公司开出了履约保函。接下来，A公司按照合同正常出货。然后，向中国银行提出撤销保函。中国银行致电对方银行，要求确认保函失效并解除担保函的责任。几天后收到回复，保函的保证任务完成。 8.2 Standby Letter of Credit 8.2.1 Definition: Standby letter of credit means an issuer on behalf of an applicant that represents an obligation to the beneficiary, pursuant to a complying presentation: -- to repay money borrowed by, advanced to, for the account of the applicant; or -- to make payment on account of any