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Guarantee/Standby L/C issued directly from trade partners local issuing bank (under KBank’s guarantee)
Everything you need to go global
Rest assured
The beneficiary can claim directly from their local issuing bank to compensate loss incurred by any default on business agreement/contract
The wording of any Letter of International Counter Guarantee Issuance must be approved by the bank and your beneficiary’s bank.
The standard commission depends on the types of guarantee/Standby L/C and other risk assignment Including the fees charged from issuing bank abroad for the issuance of their local guarantee. Rates vary from bank to bank.
Procedure for an international counter guarantee. Applicants must submit an application and evidence of collateral to the bank to establish a credit line for issuance of a Letter of International Counter Guarantee Issuance. The bank reviews the information and the documents while appraising the collateral before approving a credit line. After successful approval, the bank will establish the credit line.
