The LGU Guarantee Corporation (LGUGC) is a private risk guarantor in the Philippines that can be accessed by LGUs for PPP undertakings. To date however, it has focused its cover on risk of default of debt by the LGU or off take agreements. LGUGC charges a guarantee fee and requires a pledge on the internal revenue allotment as security. A similar agency, although public in nature is the Philippine Export Import Guarantee Corporation.