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 ofVietinBank to ensure fulfillment of financial obligations as agreed with the Guarantee Party which will allow the Guarranteed party to meet the pre-requisite to conduct its basic transaction;
- Guarantee issued by VietinBank has high credibility, widely accepted and can be verified online via webpage: https://www.VietinBank.vn/lcVerify;
- Access to consultatation on relevant guarantee mthods as well as support and consultation in solving disputes arising during basic transactions.
Once a bank commits to corresponding guarantee, VietinBank issues a guarantee policy in which 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 its commitments 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 Guarantee bank, which will allow the Customers (Guaranteed party) meet the pre-requisite to conduct its basic transaction;
- Increase the credibility with the corresponding Guarantee banks, increase the chance of meeting the requirements of the Guaranteed party;
- Convenience as the Guaranteed party can collect receivables and handle conflict in Vietnamese language and according to Vietnamese law.
- Access to advice, support in collecting information on related projects, consultations in trouble shooting during the negotiation with Guaranteeing parties
- Convenience in confirming the authenticity of Guarantees issued by VietinBank: The Guaranteed / Guaranteeing parties can check information on letters of guarantees through Vietnam Bank website: https: //www.VietinBank.vn/lcVerify.
