VietinBank commits in writing with the Guaranteeing Party to fulfill the financial requirements on behalf of the Guaranteed Party in case the Guaranteed party do not meet or only partially meet the commitment with the Guaranteeing Party. VietinBank provides the following re-guarantee forms: letter of guarantee, guarantee contract, standby L/C.
Product benefits
- Leverage the reputation of VietinBank to ensure fulfillments of financial obligations as agreed with the Guaranteeing party, which will allow the Customers (Guaranteed party) meet the pre-requisites to conduct its basic transaction;
- The guarantees issued by VietinBank has high credibility, widely accepted and can be verified online via webpage: https://www.VietinBank.vn/lcVerify ;
- Access to consultation on relevant guarantee methods as well as support and consultation in solving disputes arising during basic transactions;
Upon receipt of guarantee from a bank, the customer designates VietinBank as the reissuing bank to issue different forms of letter of guarantee with the customer as the beneficiary. The re-issuance of letter of guarantee enables to better protect the customer's interests, prevent relevant business risks of non-payment loans. VietinBank's re-guarantee forms: letter of guarantee, guarantee contract, standby L/C.
Benefits of product
- Use reputation of VietinBank to ensure perform financial obligations as agreement with the beneficiary, you can participate to basic transaction;
- Increase your reliability with partners by having guarantee from a credible bank;
- The beneficiary can collect from domestic bank and handle under Vietnamese law and language.
- Receive advise, information collecting support on relevant projects, resolve problems in negotiating with the beneficiary
- Easily confirm the guarantee's authenticity issued by VietinBank: The beneficiary/ applicant can check the information on a Website: https: //www.VietinBank.vn/lcVerify/.
