IFC: Commercially guarantees for ABBANK

10/06/2009 09:02:29 - views: 2,488

On April 24, 2009, the International Finance Company (IFC) signed the contract on commercial guarantee for An Binh Commercial Joint Stock Bank (ABBANK).

Accordingly, IFC will guarantee for the payment commitment of ABBANK in the Import-Export Contracts of the clients who meet the requirements for international payment transaction in ABBANK.

With each transaction, the guaranteed amount of money is unlimited. In 2009 the total sum of money guaranteed for ABBANK will be up to USD 10 million.

IFC will guarantee the payment commitment of ABBANK, including the import L/C, miscellaneous guaranties and reciprocal guaranty. These payment commitments are all issued by ABBANK by strong foreign currencies like USD, EUR, JPY or other free convertible foreign ones.

The ABBANK’s payment commitments guaranteed by IFC have paved the way for ABBANK’s clients to approach large companies or corporations in order for their belief in the Import-Export Contract to Vietnam.

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