Product definition:

Letter of guarantee for RMB (hereinafter referred to as letter of RMB) refers to the written commitment that Jiutai Rural Commercial Bank Co. Ltd. Makes, at the requests of corporate-type clients and in the form of letters of guarantee, to promise the beneficiaries to perform the due obligations or bear the responsibilities in accordance with the agreements on the letters of guarantee, in case that the applicants do not fulfill their contractual obligations or commitments

Business lines:

The letter of guarantee businesses offered by Jiutai Rural Commercial Bank Co. Ltd of Jilin

Province include non-financial guarantee and financial guarantee. The non-financial letter of guarantee consists of tender guarantee, performance guarantee, advance payment guarantee, letter of guarantee for payment, letter of guarantee for quality, engineering maintenance guarantee, contract guarantee, detained money guarantee, lease guarantee, customs guarantee, banks entrust letter of guarantee, property preservation guarantee,etc. Financial guarantees include mainly letter of loan guarantee and letter of overdraft guarantee.

Application conditions

(1) Corporation-type clients that have been approved and registered by industry and commerce administration authorities (or competent authorities), and holders of the card of credit investigation issued by People’s Bank of China;

(2) With sound financial system and fully funded registered capital, with suitable percentage of its own fund and owner’s equity, with strong economic power, being competent and able to meet their engagements;

(3) Having opened basic clearing account or general clearing account with our bank;

(4) With good credit status and with no poor credit record;

(5) With true and legal transaction background, with complete contract terms and clearly-determined responsibilities;

(6) Other condition required by Jiutai Rural Commercial Bank Co. Ltd. Of jilin Province.

Amount of letter of guarantee

The line of credit can be transferred among the different businesses of the non-financial letter of guarantee of the same client, and the line of credit can also be transferred among the different businesses of the financial letter of guarantee of the same client.

Period of letter of guarantee

The period of letter of guarantee shall not excess 6 months after termination of main contractual obligations, the period of validity of letter of guarantee shall not excess 5 years.