At the request of the customer (the importer), Vietcombank issues the 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.
L/C or L/C amendment advising
When receiving the L/C/ or L/C amendment, Vietcombank checks its apparent authenticity of and advise you.
- L/C advising and L/C amendment are done fast and accurately;
- Get notes on unfavorable terms and conditions if any;
- You may contact Vietcombank before signing contracts to get free advices on payment terms, L/C contents and issuing banks to ensure payment security and cost saving.
Vietcombank commits to pay or accept to pay at maturity to the beneficiary if the presented documents are in conformity with terms and conditions of L/Cs issued by the issuing bank.
- Be committed by both Vietcombank and the issuing bank to pay or accept to pay;
- Reduce concerns when you don’t know much about the issuing bank;
- Help you prevent risk from the issuing bank;
- Can rest assured with the commitment of a leading bank in the country.
Document checking and forwarding
Vietcombank receives and checks the documents’ conformity with the terms and conditions of the L/C and international practice. If the documents are discrepant, Vietcombank will instruct you to correct the documents to ensure the possibility of being paid.
After that, Vietcombank will send the documents to foreign bank for payment and credit to your account when receiving payment from foreign bank.
- Get assistance in making and presenting compliant documents to foreign bank;
- Reducing the risk of dispute about documents’ conditions and non-payment;
- Get assistancein investigating and negotiating with foreign bank if there are any issues;
- Receive money in the shortest time with most reasonable fee.
As the first beneficiary, you can request Vietcombank to transfer all or a part of the L/C value and advise the second beneficiary. After that, Vietcombank receives the documents and sends for payment.
- Provide guarantee to the second beneficiary without using the credit facility at Vietcombank;
- The second beneficiary is ensured to be paid and has the right to request the nominated bank stated in the original L/C to pay.