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Bid guarantee
Bid guarantee
VIB undertakes in writing to the guarantee recipient to perform financial obligations on behalf of the customer when not performing or performing partly the committed obligations under the letter of guarantee.
Improve reputation
Improving the reliability and reputation in business relationship.
Flexible publish
Flexibly issue guarantee letter in the form of VIB and customer sample. Fast and simple procedures.
Confirm easily
Easy to confirm the authenticity of VIB-issued guarantee: The guaranteee / guaranteed party can check the guarantee letter's information through VIB website
Corporate customer have needs to issue bid guarantee to ensure the fulfillment of financial obligations to partners.
- Customer has sufficient civil legal capacity and civil act capacity as prescribed by law
- Obligation to be guaranteed is a legal financial obligation.
- Customer has the ability to properly and fully fulfill the commitment obligations to related parties in the guarantee relationship.
- Guarantee obligation is secured or unsecured.
As per VIB's regulation
Depend on agreement between VIB and related parties