Advance payment guarantee, that is, repayment guarantee, refers to the written guarantee commitment issued by the bank to the beneficiary at the request of the applicant to ensure that once the applicant fails to perform the contract or fails to perform the contract completely, the advance payment will be returned to the beneficiary after receiving the claim from the beneficiary.

Project prepayment guarantee: also known as project repayment guarantee, refers to the guarantee for the project owner (beneficiary). If the applicant fails to perform the contract or fails to use the project advance payment in full as stipulated in the contract, the owner can provide relevant evidence at this time and lodge a claim with the bank, which is obliged to pay as needed.