Understanding financial and contractual terms is crucial when doing business or engaging in significant transactions in Korea. This guide explains the essential Korean term for “Advance Payment Guarantee” (선급금보증) and related expressions, helping you navigate contracts and financial agreements with greater confidence.
Table Of Content
Core Term
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Expression: 선급금보증
Pronunciation: seon-geup-geum-bo-jeung
Meaning: Advance Payment Guarantee (APG) – A guarantee, typically from a bank, ensuring that an advance payment made by a buyer to a seller will be returned if the seller fails to fulfill their contractual obligations.
Related Vocabulary
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Expression: 선급금
Pronunciation: seon-geup-geum
Meaning: Advance payment, prepayment -
Expression: 보증
Pronunciation: bo-jeung
Meaning: Guarantee, warranty, surety -
Expression: 보증서
Pronunciation: bo-jeung-seo
Meaning: Guarantee document, letter of guarantee -
Expression: 계약
Pronunciation: gye-yak
Meaning: Contract -
Expression: 계약금
Pronunciation: gye-yak-geum
Meaning: Down payment, deposit (on a contract) -
Expression: 이행보증
Pronunciation: i-haeng-bo-jeung
Meaning: Performance bond/guarantee -
Expression: 하자보증
Pronunciation: ha-ja-bo-jeung
Meaning: Defect warranty, warranty against defects -
Expression: 은행보증
Pronunciation: eun-haeng-bo-jeung
Meaning: Bank guarantee -
Expression: 보증기관
Pronunciation: bo-jeung-gi-gwan
Meaning: Guarantee institution (e.g., bank, insurance company) -
Expression: 수수료
Pronunciation: su-su-ryo
Meaning: Fee, commission (e.g., guarantee fee) -
Expression: 채권자
Pronunciation: chae-gwon-ja
Meaning: Creditor, obligee (the party receiving the guarantee) -
Expression: 채무자
Pronunciation: chae-mu-ja
Meaning: Debtor, obligor (the party providing the guarantee)
Key Phrases for Contracts
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Expression: 선급금보증서를 제출해야 합니다.
Pronunciation: seon-geup-geum-bo-jeung-seo-reul je-chul-hae-ya ham-ni-da.
Meaning: You must submit an Advance Payment Guarantee. -
Expression: 선급금 지급 조건은 무엇입니까?
Pronunciation: seon-geup-geum ji-geup jo-geon-eun mu-eo-sim-ni-kka?
Meaning: What are the conditions for the advance payment? -
Expression: 계약서에 선급금보증 조항이 포함되어 있습니다.
Pronunciation: gye-yak-seo-e seon-geup-geum-bo-jeung jo-hang-i po-ham-doe-eo it-seum-ni-da.
Meaning: The contract includes a clause for an Advance Payment Guarantee. -
Expression: 보증 금액은 선급금의 100%입니다.
Pronunciation: bo-jeung geum-ae-geun seon-geup-geum-ui baek-peu-ro-im-ni-da.
Meaning: The guarantee amount is 100% of the advance payment. -
Expression: 보증서 유효기간은 계약 완료일까지입니다.
Pronunciation: bo-jeung-seo yu-hyo-gi-gan-eun gye-yak wan-ryo-il-kka-ji-im-ni-da.
Meaning: The validity period of the guarantee is until the contract completion date. -
Expression: 선급금은 보증서 수령 후 지급됩니다.
Pronunciation: seon-geup-geum-eun bo-jeung-seo su-ryeong hu ji-geup-doem-ni-da.
Meaning: The advance payment will be made after receiving the guarantee document. -
Expression: 은행에서 선급금보증서를 발급받아야 합니다.
Pronunciation: eun-haeng-e-seo seon-geup-geum-bo-jeung-seo-reul bal-geup-ba-da-ya ham-ni-da.
Meaning: You need to get an Advance Payment Guarantee issued by a bank. -
Expression: 보증서 발급 수수료는 누가 부담합니까?
Pronunciation: bo-jeung-seo bal-geup su-su-ryo-neun nu-ga bu-dam-ham-ni-kka?
Meaning: Who bears the cost of the guarantee issuance fee? -
Expression: 계약 불이행 시 보증금을 청구할 수 있습니다.
Pronunciation: gye-yak bul-i-haeng si bo-jeung-geum-eul cheong-gu-hal su it-seum-ni-da.
Meaning: You can claim the guarantee amount in case of contract non-performance. -
Expression: 선급금 반환을 보증합니다.
Pronunciation: seon-geup-geum ban-hwan-eul bo-jeung-ham-ni-da.
Meaning: We guarantee the return of the advance payment. -
Expression: 이 보증서는 취소 불가능합니다.
Pronunciation: i bo-jeung-seo-neun chwi-so bul-ga-neung-ham-ni-da.
Meaning: This letter of guarantee is irrevocable. -
Expression: 선급금보증 관련 서류를 검토해 주세요.
Pronunciation: seon-geup-geum-bo-jeung gwan-ryeon seo-ryu-reul geom-to-hae ju-se-yo.
Meaning: Please review the documents related to the Advance Payment Guarantee.
Asking About Guarantees
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Expression: 선급금보증이 필요한가요?
Pronunciation: seon-geup-geum-bo-jeung-i pil-yo-han-ga-yo?
Meaning: Is an Advance Payment Guarantee required? -
Expression: 어떤 종류의 보증을 선호하십니까?
Pronunciation: eo-tteon jong-ryu-ui bo-jeung-eul seon-ho-ha-sim-ni-kka?
Meaning: What type of guarantee do you prefer? -
Expression: 선급금보증서 발급 절차를 설명해 주시겠어요?
Pronunciation: seon-geup-geum-bo-jeung-seo bal-geup jeol-cha-reul seol-myeong-hae ju-si-ge-sseo-yo?
Meaning: Could you explain the procedure for issuing the Advance Payment Guarantee? -
Expression: 보증서 발급에 시간이 얼마나 걸리나요?
Pronunciation: bo-jeung-seo bal-geup-e si-gan-i eol-ma-na geol-li-na-yo?
Meaning: How long does it take to issue the guarantee? -
Expression: 선급금보증 외에 다른 보증도 필요한가요?
Pronunciation: seon-geup-geum-bo-jeung oe-e da-reun bo-jeung-do pil-yo-han-ga-yo?
Meaning: Are other guarantees required besides the Advance Payment Guarantee? -
Expression: 이 은행의 보증서를 수락하십니까?
Pronunciation: i eun-haeng-ui bo-jeung-seo-reul su-rak-ha-sim-ni-kka?
Meaning: Do you accept a guarantee from this bank? -
Expression: 보증 조건에 대해 협의할 수 있을까요?
Pronunciation: bo-jeung jo-geon-e dae-hae hyeo-bui-hal su it-seul-kka-yo?
Meaning: Can we negotiate the terms of the guarantee? -
Expression: 선급금보증서 샘플을 볼 수 있을까요?
Pronunciation: seon-geup-geum-bo-jeung-seo saem-peul-eul bol su it-seul-kka-yo?
Meaning: Could I see a sample of the Advance Payment Guarantee? -
Expression: 보증서 원본이 필요한가요, 아니면 사본도 괜찮나요?
Pronunciation: bo-jeung-seo won-bon-i pil-yo-han-ga-yo, a-ni-myeon sa-bon-do gwaen-chan-na-yo?
Meaning: Is the original guarantee document required, or is a copy acceptable? -
Expression: 보증 한도는 얼마로 설정해야 하나요?
Pronunciation: bo-jeung han-do-neun eol-ma-ro seol-jeong-hae-ya ha-na-yo?
Meaning: What should the guarantee limit be set at? -
Expression: 보증 관련 문의는 어디로 해야 하나요?
Pronunciation: bo-jeung gwan-ryeon mun-ui-neun eo-di-ro hae-ya ha-na-yo?
Meaning: Where should I direct inquiries regarding the guarantee?
Cultural Notes on Korean Contracts
In Korean business culture, contracts and formal agreements are taken very seriously. While relationships (인맥 – in-maek) are important, written contracts provide essential security, especially in large transactions.
Advance Payment Guarantees (선급금보증) are common, particularly in construction, manufacturing, and international trade, serving as a crucial risk mitigation tool for the party making the advance payment.
Using established banks or reputable guarantee institutions for issuing guarantees adds credibility and ensures enforceability. The reputation of the guarantor matters significantly.
Clearly defining terms, conditions, validity periods, and claim procedures within the contract and the guarantee document itself is vital to avoid future disputes. Ambiguity is generally avoided in formal financial agreements.
While negotiation is part of the process, once terms are agreed upon and documented, adherence to the contract, including providing necessary guarantees promptly, is expected and reflects professionalism.
Real Conversation Example
Situation: A client (A) is discussing contract terms with a supplier (B) for a large equipment order, specifically regarding the advance payment.
Roles: A: Client (Buyer), B: Supplier (Seller)
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Expression: A: 계약 조건에 따라 선급금 30%를 지급해야 합니다.
Pronunciation: A: gye-yak jo-geon-e tta-ra seon-geup-geum sam-sip-peu-ro-reul ji-geup-hae-ya ham-ni-da.
Meaning: A: According to the contract terms, we need to pay an advance of 30%. -
Expression: B: 네, 맞습니다. 선급금을 받으면 즉시 생산을 시작하겠습니다.
Pronunciation: B: ne, mat-seum-ni-da. seon-geup-geum-eul ba-deu-myeon jeuk-si saeng-san-eul si-jak-ha-get-seum-ni-da.
Meaning: B: Yes, that’s correct. Once we receive the advance payment, we will start production immediately. -
Expression: A: 알겠습니다. 다만, 저희 규정상 선급금 지급 전에 선급금보증서 제출이 필요합니다.
Pronunciation: A: al-get-seum-ni-da. da-man, jeo-hui gyu-jeong-sang seon-geup-geum ji-geup jeon-e seon-geup-geum-bo-jeung-seo je-chul-i pil-yo-ham-ni-da.
Meaning: A: Understood. However, according to our regulations, submission of an Advance Payment Guarantee is required before we release the advance payment. -
Expression: B: 네, 문제없습니다. 저희 주거래 은행을 통해 선급금보증서를 발급받아 보내드리겠습니다.
Pronunciation: B: ne, mun-je-eop-seum-ni-da. jeo-hui ju-geo-rae eun-haeng-eul tong-hae seon-geup-geum-bo-jeung-seo-reul bal-geup-ba-da bo-nae-deu-ri-get-seum-ni-da.
Meaning: B: Yes, no problem. We will get an Advance Payment Guarantee issued through our main bank and send it to you. -
Expression: A: 감사합니다. 보증서는 선급금 전액에 대해 유효해야 합니다.
Pronunciation: A: gam-sa-ham-ni-da. bo-jeung-seo-neun seon-geup-geum jeon-ae-ge dae-hae yu-hyo-hae-ya ham-ni-da.
Meaning: A: Thank you. The guarantee must be valid for the full amount of the advance payment. -
Expression: B: 물론입니다. 필요한 서류 양식이 있다면 알려주십시오. 최대한 빨리 처리하겠습니다.
Pronunciation: B: mul-lon-im-ni-da. pil-yo-han seo-ryu yang-si-gi it-da-myeon al-lyeo-ju-sip-si-o. choe-dae-han ppal-li cheo-ri-ha-get-seum-ni-da.
Meaning: B: Of course. Please let us know if you have any specific document format requirements. We will process it as quickly as possible.
Practice Tips
Understanding terms like 선급금보증 is essential for anyone involved in Korean business or significant financial transactions! Try reviewing the vocabulary related to contracts and guarantees~.
Practice saying the key phrases aloud, focusing on the pronunciation like seon-geup-geum-bo-jeung-seo-reul je-chul-hae-ya ham-ni-da. Imagine yourself discussing contract terms or requesting a guarantee. This will help solidify your understanding and build confidence for real-world situations!
While these terms might seem complex, knowing them can prevent misunderstandings and protect your interests. Keep practicing, and you’ll become more comfortable navigating these important aspects of Korean business culture! 화이팅! (hwa-i-ting! – Fighting!/You can do it!)
