It is the service for issuing guarantee letter for beneficiary in Thailand per international agent bank’s request providing convenience for customers who are international companies or representatives running business in Thailand per conditions stipulated in the contract among the governments, government enterprises and private organizations as the beneficiaries with guarantee letters as securities.
The guarantee letter service per international agent bank’s request for beneficiary in Thailand has the following process before issuing the L/G.
The Beneficiary in Thailand, primarily governments, government enterprises or various private organizations, invites parties for biddings or notifies Principal to enter into an agreement after being announced the bid winner
International Tenderer/Contractor must enter the bid or into the agreement (when being awarded the bid) notify the international agent bank to issue a guarantee letter in form of Counter Guarantee or Standby Letter of Credit
International agent bank notifies Krung Thai bank through SWIFT / Telex to issue the letter of guarantee, depending on the case, as the international company’s request. The bank agent will guarantee Krung Thai Bank to issue the guarantee letter in form of Counter Guarantee or Standby Letter of Credit
Krung Thai Bank (as a Guarantor) will issue Letter of Guarantee: L/G to the beneficiary as requested by the international bank agent for the international Principal: Tenderer/Contractor to use for bidding or contract making process, depending on the case
Service Procedure / Conditions
Being the international company or representative in Thailand with international agent bank requests for Counter Guarantee or Standby L/G for a guarantee with the bank
SWIFT/Telex from the international agent bank is required to issue a guarantee letter for beneficiary in Thailand
Standby L/C or Counter Guarantee as securities for the bank must be issued by the international agent bank
International agent bank must have Credit Line as regulated by the financial institution business department and international office
Letter of Guarantee as required by the bank, except for the letter of guarantee for the governments and government enterprises that have to follow the governments and government enterprises’ requirement. In case of the forms are under the bank’s standard, the international trade and legal department will consider to pass application to financial institution business department and international office for approval from the bank’s authorized person before proceeding
For any questions, please contact Call Center Trade Finance Service Tel. 0-2208-3777
For more information, please contact