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.
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.
- 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.
In this service, Vietcombank amends the L/C upon request of the customer (the importer).
- 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.
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.
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.
- Assist you in examinating the documents in order to minimize payment risks;
- Fast payment with the most reasonable time and competitive fee.