To utilize the electronic bid bond service, customers must submit a bond issuance request on e-GP, select VPBank as the guarantor, and then authenticate the transaction on VPBank NEOBiz. The electronic bid bond letter will be sent directly to both systems.

A key feature of the service is its direct integration between e-GP and VPBank's digital banking platform, VPBank NEOBiz. Bid package information will be automatically populated into the bid bond request form and synchronized with the bank's system. This minimizes manual data entry, reduces errors, and subsequently lowers the risk of bid rejection.

A VPBank teller advising a customer on services. *Photo: VPBank*

This solution is fully digital, requiring no paper documentation. This helps businesses save on courier and printing costs. Businesses can monitor, update transaction statuses, and manage bid bond records anytime, anywhere via the digital banking platform.

VPBank representatives stated that the direct connection with the National E-Procurement System is a strategic step in building a digital banking ecosystem for businesses. It also demonstrates a commitment to collaborating with the government to promote digital transformation in public procurement, enhancing management efficiency and business competitiveness.

"The solution allows businesses to quickly receive bid bonds and submit bids entirely online, thereby saving time and increasing their competitive advantage in all bid packages", a VPBank representative shared.

VPBank's first Flagship branch in Hanoi. *Photo: VPBank*

The bank stated that VPBank's electronic bid bond service is developed in accordance with the latest regulations of the Law on Bidding, ensuring legal compliance, security, and accuracy for transactions.

As digital transformation becomes an inevitable trend in administrative reform and public procurement in Vietnam, the integration of the national e-procurement system with banking platforms is expected to enhance transparency, automate bidding processes, and reduce paperwork for businesses.

(Source: VPBank)

Customers can contact their nearest VPBank branch or Hotline 1900 234 568 for more details.