Vietnam

There are no formal restrictions on cover.

There areno formal restrictions on cover.

For transactions with an order value of up to 5 million euros, bank collateral is required if the creditworthiness is insufficient.

For transactions with an order value of more than 5 million euros, the creditworthiness check can only be carried out on the basis of annual financial statements prepared and audited in accordance with international accounting standards. If your creditworthiness is insufficient, bank security is required.

The assessment of a bank for acceptance as a guarantor or borrower is carried out case by case on the basis of informative documents and taking into account the risk involved.

Country information on commercial practices, business climate, market analyses, law, import procedures, customs duties and international projects and tenders can be found on the website of Germany Trade & Invest (gtai, https://www.gtai.de).