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Offering two types of guarantees (Standby L/C and Letter of Guarantee), VIB Bank will, on your behalf, provide a firm commitment to your partners regarding payments for goods or service should you not meet your agreed obligations.

 Your benefits

Our enthusiastic and experienced staff will help you to select the best guarantee solution and provide free consultancy regarding the guarantee service.

VIB Bank’s internationally prestigious brand name will help you earn the trust of your partners.

Competitive and Preferential Fees

Instructions

Step 1: Prepare the following guarantee documents:

- Application documents

·          VIB Bank Guarantee Application Form

·          Other documents (foreign contracts etc.)

- Financial documents: financial reports for the two most recent years

- Collateral documents

Extra documents are required for enterprises conducting their first transaction with VIB Bank:

• Legal Documents: Establishment License, Business Registration Certificate, Business Regulations (Refer to “Legal Documents” – Loan application documents). Please inform VIB Bank of any amendments or supplements to these legal documents.

Step 2: VIB Bank staff will receive your application documents for appraisal. The time taken differs for every transaction, between two and seven days.

Step 3: VIB Bank and your company implement the necessary procedures for a guarantee transaction:

Correction of guarantee documents

Completion of guarantee procedures

Step 4:Signing

Guarantor Contract

Pledge Contract

Mortgage Contract

Step 5: VIB issues you with a Letter of Guarantee.