Super fast guarantee for businesses bidding on public procurement projects

To practically support and promote the implementation of investment projects, especially projects funded by the state budget, and to enhance the advantages for small businesses participating in bidding, Techcombank has announced a guarantee solution for small businesses with a limit of up to 50 billion VND, with a super-fast guarantee issuance time of only 1 hour.

Catching up with the peak bidding market The last months of the year are the most exciting for the bidding market. This is also the time when businesses' demand for guarantees increases sharply, especially for public procurement projects. According to experts, "The most common difficulties that businesses encounter include short preparation time (submission) of bidding documents, difficult contract performance conditions, and difficult standards for contractor capacity and experience. This is also a problem specific to industries with frequent bidding activities such as pharmaceutical trade, medical equipment, construction, and technical equipment supply. Mr. Nguyen Kha, director of a medical equipment supplier, shared: "The bidding market for public procurement items is always open. However, to successfully bid, in addition to capacity, the capital source must be abundant to increase the chance of success, because we must simultaneously deposit the bid or issue a guarantee to prove our finances. If this package doesn't work, I still have other packages to minimize the risk of losing the bid."

Meeting the needs of businesses for quick and easy bidding, especially small and medium-sized enterprises with low collateral and the need to simplify financial records, will help seize business opportunities and achieve high business efficiency for businesses. Advantages from the fast online guarantee issuance process within 1 hour In order to remove obstacles for businesses to quickly participate in bidding, special financial solutions will create leverage and increase competitive advantages for small businesses in the "big game" with many opportunities. For example, the new public procurement project bidding guarantee solution launched by Techcombank for small businesses specializing in projects with a high limit of up to 50 billion VND. Accordingly, the bank will issue guarantees with super-fast appraisal and approval time and transaction execution time of only 1 hour on the Techcombank Business platform. More importantly, Techcombank does not require collateral for bid bonds, while the remaining group of bonds has a low collateral ratio of 0-50%. These key factors will create the best conditions for businesses when participating in bidding.

"With the desire to accompany small businesses in general and businesses participating in bidding for public investment packages, Techcombank always strives to design competitive solutions in the market, meeting the specialized financial needs of each customer group. We advocate promoting digitalization of the guarantee registration process, shortening the approval and issuance process. Online guarantee solutions help businesses optimize resources and costs in business, increase the ability to win bids, thereby enhancing their competitive position when signing contracts", Ms. Nguyen Van Linh - Deputy Director of Techcombank Retail Division shared. For more information, please visit: https://techcombank.com/thong-tin/thong-bao/techcombank-ra-mat-giai-phap-bao-lanh-cho-doanh-nghiep-dau-thau-du-an-mua-sam-cong For any information, please contact 1800 6556 or hotrodoanhnghiep@techcombank.com.vn. Source: https://thanhnien.vn/bao-lanh-sieu-toc-cho-doanh-nghiep-dau-thau-du-an-mua-sam-cong-185240913141451937.htm