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Guarantee business is a type of business that ICBC performs the guarantees of applicant's obligations to the related beneficiaries in the form of L/G upon the applicant's request and collects commission fees and related costs from applicants based on the specified rate. ICBC could offer varieties of direct Guarantees and indirect Guarantees under trades and projects, including tender guarantees, performance guarantees, advance payment guarantees, quality guarantees, maintenance guarantees, payment guarantees and overseas loan under domestic guarantees.
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