Notification and support for guarantee claim
Benefits for the customers
- No worries about forged guarantees as the Guarantee has been notified and verified by VietinBank;
- Being advised about unfavorable terms of the guarantee to elimiate risks and save costs;
- Being consulted and support in preparing claims for money under the guarantee and monitoring the results of claims, reducing the risk of payment rejection, getting advice and support in handling disputes upon performing underlying transactions related to the guarantee.
Features
- VietinBank receives, verifies and notifies guarantees/amendment of guarantee issued by domestic and foreign banks to guarantee beneficiaries, receiving documents claiming guarantee and supports the Beneficiary in claiming guarantee, paying immediately to the Beneficiary's account upon receipt of payment
Eligibility conditions
- In case of guarantee issued by another bank: Letters of guarantee/amendment of guarantee must be sent to VietinBank by the issuing bank/by the first advising bank by letter/SWIFT.
- Letter of guarantee/amendment of guarantee must be verified for authenticity.
- Letters of guarantee/amendment of guarantee can also be issued by VietinBank branches
- Comply with foreign exchange management regulations, Anti-Money Laundering Law, and regulations of countries.
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