I work for an ISP in EUROPE. I'm having a problem with the BGP Peering towards another ISP as well as the iBGP peering within our AS.
Its a fantastic BGP question as it incorporates many different questions regarding the functionality of BGP and how it operates.
The problem is that I can't describe it properly through a form...
I was wondering, if there is someone.. a network professional that would like to assist me... please leave me your email address and I will forward you a visio file with the topology and current operational status so we can discuss how resolve a major issue I'm having and that I can't resole on my own.
to answer you question about what would happened if one link fails, i'd need more details... just to avoid wrong (misleading) help from my (our) part.
It all depends on your inter AS routing, physical and logical architecture.
For the documentation, here you go:
LOAD BALANCING USING BGP:
BGP PREFIX SUMMARY (refer to Configure Aggregate Addresses ):