How Bank Guarantee Letter Could Help Secure a Transaction and Risks Involved?
In the process of performing civil transactions, there is a need to bind the performance of obligations of the parties hence secured transaction is needed and guarantee is one of the commonly used methods to secure the performance of obligations in business and commercial activities. The party that provides guarantee is normally a commercial bank and bank guarantee is normally a loan service. In reality, there are potentially many risks involved in the guarantee transaction through issuing of bank guarantee letter which needs the attent…
Tips to reduce risks when purchasing medical supplies from Vietnam
As the Covid 19 pandemic is still occurring in many countries around the world, a large number of medical equipment or accessories being Personal Protective Equipment (PPE) such as N95 respirator masks, surgical masks and other items essential to protecting doctors, nurses, others on the front lines of the pandemic are required to be purchased and sold from many different countries to meet the demand for treatment disease globally. Vietnam is a country that has many enterprises producing medical supplies such as medical gloves, medical mask…
How to minimize risks buying from Vietnam sellers in the new era?
Currently, the purchase and sale of international goods are very popular from Vietnam and around the world, taking the advantage of Vietnam the signing a number of Free Trade Agreements (FTAs), and the application of technology 4.0 in the business helping the international transaction of goods just got easier. However there are many risks involved in the meantime for international buyer purchasing goods from Vietnam sellers if due diligence on the seller, whether being corporates or individuals are not under taken. In the international goo…
Potential risk of online transaction in Vietnam and its consequences
The 4.0 Industrial Revolution has developed significantly, which results in the transformation and breakthrough of all areas of the globe. Besides, the Internet and social network has got more popular and become an indispensable part of modern life. Online business, therefore, is formed and conducted the most frequently on social networking platforms. In the process of doing online business on this platform, many potential risks arise and depending on the situation, the people taking part in the transaction might need to involve the busines…
Risk Management: A Vital Element When Doing Business
Risk management is a vital element when doing business but so far, not many enterprises concern about it. According to a recent survey with 522 companies, there are only 43 companies, accounting for about 8%, have the independent risk management department in their business. More noteworthy, the majority of these 43 companies operating in the banking and financial sector, which has nothing new to risk management. In fact, not all banks have independent and effective risk management departments. The negative problems related to the banking…
Guardian Corporation Opens Its 49th Retail Store in Vietnam
Guardian Vietnam has opened its 49th retail store in Royal City (Thanh Xuan district, Hanoi), confirming the aggressive investment and development strategy of the Guardian brand in Vietnam. Guardian is the retail chain of health and beauty products, under Dairy Farm Group, one of Asia's leading retailers on beauty and health stores, convenience stores, supermarkets and hypermarkets through many famous brands such as Guardian, GNC, IKEA, 7-Eleven,... Dairy Farm Group operates with nearly 6,000 retail outlets in more than 12 countries acr…
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