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Notices on New Product

Notices on New Product

SGI Hanoi launches Counter Guarantee Bond (CGB)

To support enterprises who lack credit facility or lack the collateral asset required by financial institutions for granting guarantees letter as the request of investors, SGI Hanoi launched Counter Guarantee Bond (CGB) aims to support and help increase financial resources for enterprises to implement projects, contributing to unlocking capital sources for enterprises as well as economy.


Coverage of CGB products:

SGI Hanoi will cover the losses that guarantee letter issuer must pay or will have to pay to the project owner in case the contractor does not perform their obligation specified in the contract signed between project owner and contractor.


Subjects participating in CGB:

Contractors, subcontractors, suppliers, and service provider need to submit a guarantee letter issued by the Banks to the project owner or Contractors but lack of collateral, lack of credit limit, or lack of credit facility, will join the CGB, uses SGI Hanoi's Counter Guarantee Bond to supplement their credit facility, collateral provide to the Bank to be granted a guarantee letter as directed by the Contractor or project owner.