Bid Bond
This is a written guarantee issued by ICBC to tender, as requested by the bidder (Applicant for the Guarantee). ICBC indemnifies the loss of tender or the amount covered by the guarantee in the event that the bidder withdraws the bid during the tender, or fails to enter the contract and to pay performance security after the receipt of the notification of tender award.

Advance Payment Guarantee
This is a written commitment issued by ICBC to importer or owner, as requested by exporter or contractor. Once the client is unable to fulfill the principal contract, Guarantee Bank returns or pays in advance the equivalent amount upon receipt of the claim from importer or owner, or equivalent to the advance payment on the part of the contract not yet performed.

Payment Guarantee
Payment Guarantee is a written guarantee issued to your exporter by ICBC. ICBC undertakes to pay the amount specified in the guarantee to your exporter in the event that you are unable to perform the payment obligation of the contract signed with your exporter.

Deferred Payment Guarantee
This is a payment guarantee issued to your exporter for deferred or time payment of the goods, and corresponding interest. ICBC undertakes to pay your exporter in the event you are unable to pay the principal and interest as scheduled in the contract.

Performance Guarantee
This is a written guarantee issued by ICBC to the beneficiary, as requested by the applicant. ICBC undertakes to pay to beneficiary the amount specified in the guarantee in the event of the applicant unable to fulfill the obligation of the contract signed with the beneficiary.

Re-issuing Guarantee
ICBC may issue various types of bank guarantee which are secured by counter guarantee from banks acceptable to ICBC Zurich branch.