Letter of guarantee is a written promise for the beneficiary at the request by the applicant to BRCB. It provides guarantee for the applicant's activities such as bidding, performing the contract and making prepayment and compensates for the applicant's failure to perform contracts.

Types:
BRCB provides the following letter of guarantee:
LEASE GUARANTEE
COMPENSATION GUARANTEE
TENDER GUARANTEE
PERFORMANCE GUARANTEE
ADVANCED PAYMENT GUARANTEE
QUALITY GUARANTEE
MAINTENANCE GUARANTEE
PAYMENT GUARANTEE
STANDBY LETTER OF CREDIT

Product features:
Higher credit, more flexible with broader applicable scope.

Application conditions:
(1) Client provides qualification materials and credit investigation materials needed by BRCB.
(2) Client provides letter of guarantee format and application.
(3) When client opens an account with BRCB, please pay margin deposit and related guarantee.

Procedures:
(1) Client provides application as well as related materials and fills out guarantee application.
(2) BRCB verifies the applicant's ability with regard to qualification, fiscal position, deal's background, performance and repayiment.
(3) BRCB signs with the applicant Guarantee Agreement specifying the kind, usage, amount, fees, valid period, compensation condition, right and liability, mutual responsibility, and other issues agreed upon each party.
(4) Anti-guarantee may be required if any.