Letter of guarantee
Letter of guarantee is a commitment issued to the beneficiary by the bank on request of an applicant guaranteeing the applicant’s fulfillment of payment or performance obligations. We offer local and overseas Letter of Guarantee services with the following terms and conditions.
USD
LG issued abroad/overseas | |
|---|---|
| To issue an LG | 0.2% /min. USD 150.0, max. USD 350.0/ |
Additional services (fees deducted based on the customer’s request) | |
| To increase the amount /from the increased amounts/ | 0.2% /min. USD 50.0, max. USD 150.0/ |
| To amend LG’s terms and conditions | USD 50.0 |
| To cancel a LG | USD 50.0 |
| LG issued domestically | |
| To issue a LG | MNT 30,000.0 |
| To change LG’s conditions | MNT 20,000.0 |
| To cancel a LG | no fee |
| The risk commission will be charged additionally for issuance of uncovered LG. | According to contract: (min. USD 150.0) |
| According to contract: (Foreign currency - min. USD 50.0) | |
| According to contract: (Domestic currency – min. MNT 50,000.0) | |
| A particular customer is responsible for paying postal fees /via DHL/ to dispatch LG documents. | |
| Note: Any other banking fees and commissions related to a LG shall be borne by a customer. | |
Fees related to receiving overseas originated LG | |
|---|---|
| To advise receipt of a LG | USD 30.0 |
| To receive an invoice and other related documents and send for payment upon verification | 0.15% /min. USD 75.0, max. USD 350.0/ |
Additional services (fees deducted based on the customer’s request) | |
| To advise amendments of a LG | USD 10.0 |
| To advise cancellation of a LG | USD 25.0 |
| A particular customer is responsible for paying postal fees /via DHL/ to dispatch LG documents. | |
| Note: Any other banking fees and commissions related to a LG shall be borne by a customer. | |
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