The guarantee commitment must include the following contents:
a) Applicable regulations;
b) Serial numbers and guarantee commitment form;
c) Information about parties in the guarantee relationship;
d) Date of guarantee issuance, guarantee validity commencement and/or cases in which the guarantee validity begins;
dd) Date of validity termination and/or cases in which the guarantee validity is terminated;
e) Guarantee sum and currency;
g) Guarantee obligations;
h) Conditions for fulfillment of guarantee obligations;
i) Application for fulfillment of guarantee obligations;
k) How to check the authenticity of the guarantee commitment.
In Vietnam, there are banks whom only issue one original bank guarantee letter however the number of originals are not regulated in Vietnam laws. It is also important to ensure the person whom sign the bank guarantee letter is legal representative or the authorized person whom is legally authorized to sign the bank guarantee letter.
How ANT Lawyers Could Help Your Business?
The changes of laws will be monitored by ANT Lawyers. For advice or service request, please contact us via email ant@antlawyers.vn or call our office at (+84) 24 730 86 529
Foreign companies entering Vietnam's thriving market face unique legal questions, especially around employing local talents.…
On October 3, 2024, Thailand’s Department of Foreign Trade (DFT) had officially launched an anti-dumping…
On September 25, 2024, the Ministry of Industry and Trade officially initiated an anti-dumping investigation…
The Weinstein International Foundation (WIF) has officially launched the 2024 International Mediation Writing Competition (IMWC2024).…
In recent years, Vietnam has continuously enhanced its legal framework to meet the demands of…
Vietnam’s dynamic economic growth and hot real estate market have drawn the attention of investors…