MORE EXPORTS MORE MONEY

All corporations exporting goods expect to be guaranteed for quick and sufficient payments. Choose VIB Bank to be your L/C advising bank and present your shipping documents after shipment.

Benefits for you from VIB Bank

·        With VIB’s broad global network of correspondent banks, your business partners will receive the original L/C within 24 hours

·        VIB Bank is the first bank in Vietnam to successfully deploy a document processing centre, known as Trade Hub. Import - export documents are processed in the shortest possible time by VIB experts with 100% accuracy guaranteed, helping importers and exporters to claim funds/gain customs clearance quickly and conveniently.

·        VIB Bank also provides package products such as its A to Z import - export services and electronic Trade Finance (e-Trade) to maximize support of your import - export operations.

·        Free advisory service and instruction for preparing your shipping documents for secure payment.

·        Fast and accurate transaction 

·        Collected proceeds in foreign currency sold to VIB Bank at the best selling rate eliminating all risks from exchange rate fluctuation.

·        Corporation finance at preferred loan interest rate before and after shipment.

·        Free advisory service from VIB Bank for you before having foreign trade with your partner.

Service usage instructions

Receiving L/C

 Upon reiceiving or amending L/C from an issuing bank, VIB Bank will promptly advise the L/C to you.

For advising export L/C through VIB Bank, you should provide your foreign partners the following information about VIB Bank

You may refer to List of VIB Bank correspondent banks (attached file) to select L/C issuing bank to minimize L/C advising fee. 

Examining L/C

Right after receiving the original L/C, you will check the L/C content and compare with the terms and conditions of signed contracts. If it is impossible to implement fully and precisely all terms and conditions of the L/C, you should immediately notify the importer and require to amend the L/C (stipulation to amend L/C to be done through the issuing bank is very important)

Delivering goods and issuing shipping documents

If you have accepted the received L/C, you must prepare goods and deliver in time as agreed and obtain all documents required in L/C. You should carefully examine shipping documents before the presentation at VIB Bank.

Presenting shipping documents at VIB Bank

You should present shipping documents prior to the expiry date stipulated in L/C and

·        Present with verified original L/C and the amendments (if any)

·        Shipping documents as per the L/C.

·        Application for sending payment requirement or application for document negotiation. 

 L/C Payment

When shipping documents is presented in conformity with L/C terms and conditions as well as the UCP 500 of the ICC, VIB Bank will make telegraphic payment requirement to a foreign bank. VIB Bank will monitor and speed up the L/C issuing bank. After receiving the payment from the issuing bank, VIB Bank will credit your account and promptly notify you.

Contact

For your further information, feel free to contact any VIB Bank’s branch at your most convenience, or call to our Call Center at  (04) 9426919, (84511) 3651743, (08) 8242620