Guarantee issuance

14/05/2016 09:29 AM

At your request, Vietcombank will issue a written commitment to a designated third party (the beneficiary) in which  Vietcombank will perform your financial obligations in case you do not perform/or  perform them  improperly. 

As the instructing party, you can request Vietcombank to guarantee for your or other organizations/individuals’ obligation. Vietcombank can guarantee for all legal obligations of yours or other organizations/individuals at your request.

Benefits

  • Satisfy your partner’s requirement  for a bank guarantee.
  • Increase your reliability with  partners  by having a  prestigious bank’s guarantee.
  • Increase your opportunity for loan access.

​Vietcombank issues a written commitment ensuring the beneficiary the performance of your debt repayment obligation. In case you don’t (fully and timely) repay the debt, Vietcombank will pay on your behalf upon presentation of a complying demand by the beneficiary.​

​Vietcombank issues a written commitment ensuring the beneficiary the performance of your payment obligation. In case you don’t (fully) perform it, Vietcombank will pay on your behalf on due date upon presentation of complying demand.

​Vietcombank issues a written commitment ensuring the bid inviter (the beneficiary) the performance of your bid participation obligation. In case your have to pay a fine due to violation of bidding regulations but don’t (fully) pay it, Vietcombank will pay on your behalf upon presentation of complying de​mand.

​Vietcombank issues a written commitment ensuring the beneficiary proper and sufficient performance of the contract you signed with the beneficiary. In case you violates the contract and have to compensate the beneficiary but don’t (fully) oblige, Vietcombank will do on your behalf upon presentation of complying demand.

​Tax guarantee for import/export commodities is a bank guarantee in which Vietcombank commits to  implement your  tax obligations for import/export commodities  in case you do not  make any tax payment or do not pay in full amount in the due date.  

Through the online gate, the Customs  will receive Vietcombank’s electronic advice of  guarantee immediately after  the import/export tax guarantee has been issued by the bank.

Benefits:

  • Assist you to carry out customs clearance procedure and commodity release in the properly fastest way.
  • Your working capital stagnancy  can be shortened as this product is carried  out along with “State Budget Collection” service, therefore, tax guarantee will be released immediately after your tax payment order has been completed at Vietcombank, without waiting until the State Treasury’s account is deposited.

​Vietcombank issues a written commitment ensuring the beneficiary the refund of advance payment/deposit according to the contract signed you signed with the beneficiary. In case you violates the contract and have to refund the advance payment/deposit but don’t (fully) repay, Vietcombank will pay on your behalf upon presentation of complying demand.​​

​Vietcombank issues a written commitment ensuring the beneficiary that in case the you don’t deliver work quality, after-sales services, maintenance, etc. as agreed in the contract with the beneficiary, Vietcombank will perform the financial obligation on your behalf upon presentation of complying demand.

​Vietcombank (the corresponding guarantor) issues the guarantee for another bank (the guarantor), requesting that bank to issue guarantee for your obligations with the beneficiary. In case you violates commitments and the guarantor has to perform the guarantee obligations, Vietcombank will perform the corresponding guarantee obligations with the guarantor.

​​Beside the above-mentioned guarantees, depending on your needs, Vietcombank can issue other types of guarantee that are not prohibited by laws an​d suitable to international practices.​​​​