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Home  /  Picture of the Day  /  Pic of the Day by Category  /  Economy 财经   /  利比亚向中企项目银行申请“保函延期”- Libya addresses Chinese banks crediting Chinese enterprises, asking for Deferred Payment Guarantee
利比亚向中企项目银行申请“保函延期”- Libya addresses Chinese banks crediting Chinese enterprises, asking for Deferred Payment Guarantee print version
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4月2日,商务部[1]网站发布消息称,截至目前,利比亚两家银行共向中国进出口银行、中国银行、中国建设银[2]行提出11笔保函延期[3](Deferred Payment Guarantee)要求,总金额4.97亿美元。

上述11笔保函到期日多集中在2011年4月、5月、7月和8月,最早的为3月25日。其中,利比亚撒哈拉银行就7笔保函、利比亚共和国银行就1笔保函提出"不延期即付款"的要求,其余3笔仅提出延期要求。

据银行业内人士分析,所谓"不延期即付款",即要求银行把保函的担保期限[4]延长。如果保函到期,对方不来索赔[5],银行就免责了,现在提出"不延期即付款"的条款要求,其实对中方银行很不利。简单理解,如果中国企业建设的工程不能如期完工,根据"履约保函[6]"的相关条款,利比亚业主就可按1:1的金额索赔。

中国在利比亚的投资集中在能源[7]及建筑业[8]。自2月15日起,北非国家利比亚陷入动乱。之后,中国开始撤离在利比亚的中国公民。3月22日,商务部发言人[9]姚坚在例行新闻发布会上透露,根据我们掌握的材料,目前中国在利比亚承包的大型项目[10]一共有50个,涉及到合同的金额是188亿美元。4月2日,商务部网站发布的消息还表示,商务部正在并将继续与国务院国资委[11]和最高人民法院[12]配合,指导中国有关银行和企业妥善回应利比亚有关银行的上述延期要求。 

April 2nd, the website of the Department of Commerce published a news item, saying that until now, two banks in Libya have addressed The Export-Import Bank of China, Bank of China and China Construction Bank, posing a request for Deferred Payment Guarantee (DPG), in a total sum of $497 million.

The dates due for the DPG mentioned above are in April, May, July and August (2011), and the earliest one was on March 25th. Among them, Libya's Sahara Bank has 7 Deferred Payment Guarantees. Libya's Republic Bank, concerning one DPG Payment, has posed a request for 'not postponing and paying the sum on demand', while other three DPG only posed the request to postpone.

According to analysis by personnel in the Banking business, the so-called 'not postponing and paying the sum on demand' is namely a request to prolong the guarantee time limit stated in the letter of guarantee. If the letter of guarantee expires, the other party wouldn't claim damages and the bank wouldn't be held responsible. The request to 'not postpone and pay the sum on demand', posed at present, is actually unfavorable for Chinese banks. It could be simply understood that if the engineering projects constructed by China's enterprises cannot be completed on schedule,  Libya's proprietor can simply claim damages money in a 1:1 format, according to relevant articles in 'keeping the letter of agreement'.

China's investments in Libya are concentrated in the industries of energy sources and building construction. Since February 15th, the North African country Libya has fell into disturbance. Afterwards, China began to evacuate Chinese citizens from Libya. On March 22nd, spokesman of the Department of Commerce, Yao Jian, revealed in a routine press conference that according to data we have in hands, there are currently 50 large-size projects which China undertakes in Libya, involving a contract money sum of $18.8 billion. The news published on the website of the Department of Commerce on April 2nd also indicates that the department is now coordinated with the National Expenses Committee of the State Council, and the supreme People's Court. This will lead to a proper response by China's relevant banks and enterprises to the above mentioned postponing request of relevant banks in Libya.


[1] 商务部 shāngwùbù - Department of Commerce

[2] 中国进出口银行、中国银行、中国建设银 zhōngguó jìnchūkǒu yínháng 、 zhōngguóyínháng、 zhōngguó jiànshè yín - The Export-Import Bank of China, a bank managed by the State Council, providing low interest loans to state projects; Bank of China, one of the five biggest Chinese banks; China Construction Bank, ranked as the 4th major Chinese bank.

[3] 保函延期 bǎo hán yánqī - Deferred Payment Guarantee (DPG); A bank service which extends a guarantee to an equipment manufacturer on behalf of its client that the financing extended by the financier would be repaid as per the terms agreed upon.

[4] 担保期限 dānbǎo qīxiàn - Guaranteed time limit

[5] 索赔 suǒpéi - Claim damages

[6] 保函 bǎo hán - Letter of guarantee

[7] 能源 néngyuán - Energy resources

[8] 建筑业 jiànzhùyè - Building construction industry

[9] 发言人 fāyánrén - Spokesman

[10] 大型项目 dàxíng xiàngmù - Large scale project

[11] 国务院国资委 guówùyuàn guó zī wěi - Short for 国务院国有资产监督管理委员会, State Council Management Committee for Supervision of State-Owned Property, in which representatives of the People's Court and People's Congress participate.

[12] 人民法院 rénmínfǎyuàn - The People's Court, the highest judicial organ in China.


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