Guarantee

SACOMBANK issues Guarantees with:

• Low call margin.
• Monetary Guarantee thereafter.
• Flexible guarantee period that expires according to the event.
• Execution of contract when there is no contract.
• High rate of guarantee/collateral issuance. Flexible advance payment.

SACOMBANK issues guarantees for non-resident organizations. The letter of guarantee is presented either in English or bilingual English - Vietnamese and the currency on the letter of guarantee is either in VND or in a foreign currency which SACOMBANK accepts for transactions.

• Unconditional Letters of Guarantee: SACOMBANK commits to pay unconditionally upon receipt of payment request from The guarantor, the guarantor is not required to explain, prove the breach or provide documents proving the guarantor's breach.
• Conditional Letters of Guarantee: SACOMBANK commits to pay upon receipt of payment request from the Guarantor, which explains, proves and clarifies violations of the Guaranteed Party and must be enclosed with documents proving the breach of the Guaranteed Party. However, SACOMBANK has no obligation to check the authenticity, accuracy and legality of these documents.