Refund advance payment guarantee is a performance guarantee, which is guaranteed by the bank. If you fail to perform the contract, Bank of China must return the deposit of 65,438+05% to the buyer, which has nothing to do with the red clause letter of credit, because the red clause part of the advance payment is part of the letter of credit, but from the terms, your deposit of 65,438+05% is not part of the letter of credit. As for whether this clause is necessary, it is the result of negotiation between you and the other party, and you can accept it.
Whether China Bank can accept the performance guarantee issued by you depends on your relationship with the bank. You can explain the situation clearly to the bank, and even agree to put 15% of the deposit in the bank as collateral (most banks are worried that they will have no money when they really need a refund), so there is a chance.