Your business could leverage this to issue various types of bank guarantees, including: Bid Guarantees, Performance Guarantees, Advance Payment Guarantees, Retention Guarantees, Payment Guarantees, Defect Liability Guarantees, Shipping Guarantees, and Standby Letters of Credit.
| No | Description | Fee Charge |
|---|---|---|
| 1 | Shipping Guarantee under LC | 0.125% p.m (1.5% p.a) |
| 2 | Bank Guarantee Issuance | |
| 3 | Guarantee Amendment | Amount and expiry date: 0.125% p.m (1.5% p.a) |
| All others: $50 | ||
| Guarantee Amendment through Swift |
| |
| 4 | Guarantee Cancellation Requested by applicant (after BG issued) | USD100 flat |
| 5 | Processing Fee (p.a) | 1% of BG amount |
| 6 | Renewal Fee (p.a) | 1% of BG amount |
| 7 | Payment of claim/ drawing (deducted from beneficiary) | 0.125%, min. USD50 |
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