Guarantee Amendment Fee

Guarantee Amendment Fee refers to the fee charged by a bank to the applicant when the terms of a guarantee (such as a performance guarantee, advance payment guarantee, etc.) need to be amended in international trade. Guarantee amendments typically involve changes to the amount, validity period, beneficiary, terms, etc. Usage scenarios include: contract changes leading to adjustments in guarantee content, beneficiary requesting amendments to terms, applicant needing to extend the guarantee period, etc. Notes: The amendment fee is usually borne by the applicant, but the contract may stipulate that the responsible party pays; rates vary among banks, and the more amendments, the higher the fee; amendments require the beneficiary's consent, and the amended guarantee must still comply with the applicable rules of the original guarantee (e.g., URDG758). Distinction from other terms: The guarantee amendment fee is different from the guarantee issuance fee (charged at initial issuance) and the guarantee notification fee (charged when the bank notifies the beneficiary); it is incurred solely for the amendment. Foreign trade practitioners should specify the party bearing the amendment fee in the contract and minimize unnecessary amendments to control costs.