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K-Letter of Guarantee

​​​​​​​​​​​​​​​​​​​​​​​​Build trust and confidence for your business.​​​

 

Business partners can be assured even without any asset collateral.

A letter of guarantee from the bank can be used instead of collateral such as cash or bonds, deeds, etc.

Contract breaches worryfree.
We’ve got it all covered.

The LG recipient may demand payment from the bank.
The bank will track the customer to repay the money later.

Loan Details


Loan Limit

Subject to the bank’s approval.

Fee Payment Date

A bank fee will be collected on the issue date, and on the renewal of a guarantee.

How to Apply

Qualifications

Status

  • Not in NPL status

Income

  • Profits in at least 2 out of the past 3 years are positive

Age of business

  • Have been in business for at least 2 years

Remark: Other qualifications are as per the bank's regulations.

Required Documents

Private individuals

  • Copy of the borrower's national ID card
  • Copy of the house registration of the borrower and spouse
  • Copy of a name-surname change certificate of the borrower or spouse (if any)
  • Copy of a marriage or divorce certificate (if any)
  • Copy of the personal income tax payment certificate
  • A bank statement from a financial institution showing the past 6 months' history of transactions
  • Photocopies of documents evidencing ownership rights to the property
  • A sales-purchase contract or deposit contract (if any)

Business corporations

  • A certified copy of the partnership registration (issued within the last 3 months)
  • Certified copies of the company's Memorandum of Association and Articles of Association (issued within the past 3 months)
  • Copy of the juristic person’s tax identification card
  • Copy of the personal income tax payment certificate
  • Minutes of the company board meeting agreeing on a resolution to request a loan and to open an account with the bank
  • The latest financial statement submitted to the Revenue Department
  • A bank statement from a financial institution showing the past 6 months' history of transactions
  • Photocopies of documents evidencing ownership rights to property
  • A sales-purchase contract or deposit contract (if any)

Frequently Asked Questions

What is the maximum limit of indemnity?
If the recipient of the K-Letter of Guarantee asks for the bank to make payment according to the conditions specified in the K-Letter of Guarantee, will the bank pay in full?
How to confirm Letter of Guarantee after beneficiary received KBank’s LG from your partners?