In the tide of digital transformation, every step of innovation indicates infinite possibilities in the future. Recently, ICSC with Baotou Bidding Co., Ltd. and Hebei Zhuzheng Technology Co., Ltd., have cooperated in depth to jointly launch the electronic bid guarantee function on the Baosteel electronic procurement trading platform, bringing an unprecedented convenient experience to platform users.

    The process of handling traditional paper guarantee letters is cumbersome, inefficient and difficult to verify, while the emergence of electronic guarantee letters is a major innovation in this traditional model. An electronic guarantee is a form of providing a guarantee by a bank or other financial institution to a third party (beneficiary) for electronic guarantee documents. If the applicant (or debtor) fails to fulfill his obligations, the institution that issued the guarantee shall bear its corresponding responsibilities. It can realize the full process online processing and use electronic signature technology to perform anti-counterfeiting certification. The beneficiaries can also check the validity and authenticity of the guarantee letter online in real time. Compared with paper guarantee letters, this form not only greatly simplifies the handling process of guarantee letters and provides enterprises with a more flexible space for fund operation, but also has great advantages in terms of guarantee letters preservation, inspection, anti-counterfeiting, confidentiality, etc.

    This cooperation is not only a demonstration of the technical strength of both parties, but also an active exploration of the future development direction of the industry. By introducing the electronic guarantee function into the electronic procurement platform, it not only improves the service level of the platform, but also wins wide praise from users. It is an important step we have taken in the electronic procurement business field. In the future, ICSC will continue to deepen its cooperative relationship with its partners, continuously optimize and improve its electronic procurement business, constantly explore the path of technological innovation, contribute to promoting the digital transformation of the industry, and provide customers with more efficient, convenient and safe electronic procurement solutions. We look forward to achieving more efficient, intelligent and green development in the tide of digital transformation and creating a better future!