Electronic letter of guarantee is divided into bank electronic letter of guarantee, letter of guarantee electronic letter of guarantee and separated electronic letter of guarantee. Therefore, bank electronic guarantee is a kind of electronic guarantee, which is different from paper guarantee. The legal effect of electronic guarantee is consistent with that of paper guarantee.

The state has issued many policies to support the development of electronic letter of guarantee, such as the Notice of the General Office of the State Council on Forwarding the Guiding Opinions of the National Development and Reform Commission on Deepening the Integration of Public Resource Trading Platforms, which proposes to promote the application of electronic business licenses and electronic letters of guarantee in the field of public resource trading, so as to reduce the transaction cost of enterprises and improve the transaction efficiency.

The "Smart City Electronic Guarantee Integrated Service Platform" independently developed by PICC Digital Intelligence is the leading "internet plus Government+Finance" service platform in China, providing one-stop solutions for government departments, financial institutions and market players.

Compared with the traditional paper letter of guarantee, the electronic letter of guarantee has the following four functions:

First, ensure data security.

1. data transmission: electronic guarantee ensures the security of key data transmission by encrypting the source data;

2. Message encryption: message encryption and electronic signature are used for data docking to ensure transaction and data security;

3. Data recovery: After bid opening, the system can recover the complete information of the letter of guarantee through the bid code;

4. Generation of letter of guarantee: the electronic letter of guarantee is encrypted and authenticated, and stamped with the electronic signature of the financial institution, which has legal effect;

Second, reduce the burden on enterprises.

1. Electronic letter of guarantee can reduce the transaction cost and financing cost of enterprises and reduce the burden of enterprises;

2. Through deep cooperation with financial institutions, solve the problems of financing difficulties, expensive financing and slow financing for small and medium-sized enterprises;

Third, it is convenient and fast.

The electronic guarantee is online all the time, and the operation is simple, fast and safe, and the system automatically identifies and checks risks;

Fourth, blockchain certificate.

The electronic guarantee blockchain deposit certificate has the characteristics of tamper-proof, anti-counterfeiting, traceability, openness and transparency, difficulty in losing and legal effect;