Guarantee Service
1 Guarantee products
Guarantee products of LVB consists of 6 types:
1. Bid security
2. Performance Security
3. Advance payment guarantee
4. Guarantee of product quality assurance
5. Payment guarantee
6. Counter guarantee
2. Benefits of a letter of guarantee services for customers:
- Customers will gain trust of their partners since LVB has its high reputation in Laos.
- Investors will reduce risk and partially mobilize contributed capital from contractors.
- Demands are satisfied for diverse product guarantee of LVB.
- Fast speed, secure, accurate, secure because LaoVietBank use the most modern Bank technology and highly qualified staff.
- Competitive fees compared to other banks.
- Simple, fast and convenient procedures.
3. Objects of application:
- Laotian enterprises and foreign enterprises operating in Laos
- Individuals in need of this service.
4. Features and function of letter of guarantee.
- Type of currency to issue letter of guarantee: LAK, USD, THB, etc (Depending on actual needs)
- Time of letter of guarantee (depending on the contract).
5. Registration dossiers:
There are 03 cases as follows:
5.1. Where cash collateral worth 100% of letter of guarantee value
- Request for issuance of letter of guarantee
- Legal documents include:
+ Business operation license
+ Business registration certificate
+ Tax registration certificate
- Profile of guarantee (Papers announced, contracts related to each type of guarantee)
5.2. Where there is collateral:
- Request for issuance of letter of guarantee
- Legal documents include:
+ Business operation license
+ Business registration certificate
+ Tax registration certificate
+ Company charter
+ Organizational model of the company
+ Decision on appointment of Director and Chief Accountant (if any)
- Financial Statements of 03 most recent years (Copy)
- The contracts carried out for construction in the nearest 02 years (Copy)
- Profile of guarantee (Papers announced, contracts related to each type of guarantee)
- Profile of collateral (In case of using collateral)
5.3. Unsecured case
- Request for issuance of letter of guarantee
- Legal documents include:
+ Business operation license
+ Business registration certificate
+ Tax registration certificate
+ Company charter
+ Organizational model of the company
+ Decision on appointment of Director and Chief Accountant (if any)
- Financial Statements of 03 most recent years (Copy)
- The contracts carried out for construction in the nearest 02 years (Copy)
- Profile of guarantee (Papers announced, contracts related to each type of guarantee)
- Cash collateral10% - 30% (depending on the agreement).