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Payment Guarantee

Description

Payment Guarantee services are provided by Bank of China Limited Macau Branch. A Payment Guarantee is issued by Bank of China and at the request of the buyer and in favor of the seller, guaranteeing that the buyer shall fulfill the payment obligations in an underlying contract of purchasing goods, technology, patent or labor.

Features

1. Mitigate the mutual distrust of parties involved in projects;

2. Binds the parties to perform the payment obligation in a contract;

3. Regarded as an alternative to documentary credits.

Target Customers

Buyers involved in sales contracts.

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