Letter of Credit

27/06/2018 09:53 AM

At the request of the customer (the buyer), Vietcombank issues the (import, domestic) L/C, committing to pay to the beneficiary at sight or at maturity when the beneficiary presents the documents in conformity with the terms and conditions of the L/C. Depending on customers' credit history, L/C can be issued with or without a deposit. 

Benefits

  • Secure for both seller and buyer;
  • Reduce capital pressure for the buyer;
  • Receive advice on the transactions to ensure benefits;
  • Can be financed through exempting/decreasing deposit rate for L/C issuance or loan.


​In this service, Vietcombank amends the L/C upon request of the customer (the buyer). 

Benefits

  • Amendment is done fast and conveniently;
  • Vietcombank reviews the amendments and advises if necessary to ensure your benefits.


​Vietcombank endorses Bill of lading or issues Delivery authorization or Shipping guarantee for the customer to receive goods from the transporter.

Benefits

Enable customers to receive goods in case of missing documents, customers only have the original or copy of the Bill of lading or the original Airway bill.

​Vietcombank pays the beneficiary when receiving documents in conformity with terms and conditions of the L/C or when the customer (the buyer) accepts to pay the discrepant documents.

Benefits

  • Assist customers in examinating the documents in order to minimize payment risks;
  • Fast payment with the most reasonable time and competitive fee.


Vietcombank provides usance Letter of Credit with early payment term to meet the exporter’s demand for payment at sight (L/C UPAS) or on a specific date before the due date (L/C UPAS PLUS) while VCB’s customer (the importer) only pay at the maturity date of the draft/documents.

Benefits

  • To meet the capital demand of importer by transferring sight L/C into usance L/C (not exceeding 360 days) and also meet the exporter’s demand for prepayment;
  • Enhance liquidity, cash flow, transactions with foreign partners as well as reduce pressure of foreign currency in case of not having foreign currency receivables to pay loans;
  • Expand the opportunity to work with reputable exporters with competitive price offer/quotes;
  • Reduced cost of goods and more profitable import duties;
  • Competitive fee, even lower than common foreign currrency borrowing interest rate as well as cost of VND borrowing for L/C payment at sight.

Letter of Credit
International Payments - Trade Finance
Tariff for Documentary collection
Overseas Remittance Tariff