VIB provides guarantees for customers, be they individuals or business households, permitting commercial transactions to be carried out promptly and conveniently
1. Types of guarantees
- Loan Guarantees
- Payment / Trade Debt Guarantees
- Tender Guarantees / Bid Bonds
- Performance Guarantees
- Advance Payment Guarantees (refunding money paid in advance, payment refunds, deposit refunds)
- Corresponding Guarantees
- Guarantee Certificates
- Other guarantees as per customer requests that meet international banking practice and Vietnamese law.
2. Application criteria
Customers must satisfy the following conditions:
- Have full civil legal capacity and civil action capacity, according to law;
- Have permanent or KT3 temporary residency certificate at a location with a VIB Bank branch;
- Have a legal purpose for the guarantee;
- Have the financial resources to carry out the duties guaranteed by VIB in the committed term;
- Have collateral according to law and VIB regulations.
3. Guarantee amounts and terms
VIB meets all customer requests that meet its regulations and Vietnamese law. The maximum period for a guarantee is 12 months.
4. Documents required for application
- Copy of identification card, household registration book or KT3 temporarily residency certificate;
- Completed VIB guarantee application form;
- Related documents: tender documents, loan use plan, business contract, sales invoice, payment receipt, etc.;
- Documents proving financial capacity for repayment;
- Other documents, as required.