Import services

14/05/2016 09:17 AM

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​Letter of Credit (L/C) is a payment method in which the issuing bank, upon request of the applicant (the importer), commits to pay a certain amount of money to the beneficiary (the exporter) or accept the bill of exchange drawn by the beneficiary after receiving the documents in conformity with the terms and conditions of the L/C.

L/C issuance

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. Depending on your credit history, L/C can be issued with or without a deposit.   

Benefits

  • Ensure safety for both exporter and importer;
  • Reduce capital pressure for the importer;
  • Get advises on the transactions to ensure your benefits;
  • Can be financed through exempting/decreasing deposit rate for L/C issuance or loan.
L/C amendment​

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

Benefits

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

Bill of lading endorsement/Delivery authorization/Shipping guarantee

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

Benefits

Help you receive goods in case of inadequate documents. In this case, you only have the original or copy of the Bill of lading or the original Airway bill.  

L/C settlement

Vietcombank pays the beneficiary when receiving documents in conformity with terms and conditions of the L/C or when the exporter accepts to pay the discrepant documents. 

Benefits

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

​Documentary collections is a payment method in which the exporter authorizes the bank to collect money from the importer based on the shipping documents, with the condition that the bank will hand over the documents to the importer to receive goods only when the importer pays or accepts to pay the Bill of exchange. 

Upon receiving collection documents from overseas bank, Vietcombank will inform and request the you to pay or accept to pay the Bill of exchange at maturity and then hand over the documents for you to receive goods.

Types of collection

  • D/P (Documentary against Payment):  The bank hands over the documents to the importer only when the importer makes payment.
  • D/A (Document Against Acceptance):  The bank hands over the documents to the importer only when the importer accepts to pay the Bill of exchange at maturity.

Benefits

  • Get assistance in handling the documents;
  • Fast payment in the shortest time with competitive fee through the wide network of Vietcombank.

​This is the simplest type of settlement for you to pay for goods, services, etc.  

Types of remittance

  • T/T remittance (Telegraphic transfer)
  • Bank draft  

Benefits          

  • Simple and convenient procedures;
  • Can go to any Vietcombank branches nationwide and choose any transaction methods (over the counter, electronic, online);
  • Competitive fees with no additional fee when transferring cash;
  • Highly automatic remittance mechanism compatible with international standards , ensuring accuracy and speed;
  • Get value-added services such as regulations on foreign currency management, international bank account number (IBAN), anti-money laundering, information on trade embargo. 
Import services
International Payments - Trade Finance
Tariff for Documentary collection
Overseas Remittance Tariff