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What are Application Dossiers to Apply for Bank Guarantee?
According to Vietnam Law on Credit Institution, and Circular 07/2015/TT-NHNN on bank guarantee, bank guarantee refers to a type of credit whereby the guarantor undertakes to act on behalf of the obligor to fulfill their financial obligations to the obligee in the event the obligor fails to fulfill or insufficiently fulfill their agreed-upon obligations to the obligee; the obligor must take on their debt obligations and repay the guarantor.
Guarantee commitment is the written document issued by the guarantor or the counter-guarantee issuing party or the guarantee-confirmation issuing party.
According to Vietnam Law on Credit Institution, and Circular 07/2015/TT-NHNN, the application dossiers for bank guarantee are:
a) Written request for guarantee;
b) Materials related to customers;
c) Materials on guaranteed obligations;
d) Materials on security (if any);
dd) Materials related to other parties (if any).
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