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Advice of Letter of Guarantee (L/G)

Overview
Advice of L/G means that ABC verifies the apparent authenticity of the L/G from a foreign bank and then notifies the beneficiary as requested by the guarantor.

Features
The L/G guarantees the interest of the beneficiary in the event of the L/G applicant's default.

Procedures
1. ABC receives an L/G issued by a foreign bank and verifies the apparent authenticity of the L/G.
2. ABC advises its customer who is the beneficiary of the L/G. 
3. The ABC customer signs the Advice of Letter of Guarantee/Standby Letter of Credit and returns the bank copy to ABC.
4. Within the terms of the L/G, the customer should submit the Application for Mandate Claims under Letter of Guarantee/Standby Letter of Credit to ABC if he wishes to mandate ABC for claims. After reviewing relevant documents, ABC will make claims against the guarantor in accordance with the provisions of the L/G.

Note: Please contact your local branch for detailed information about the service.

Customer Service Center : 95599

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