Corporations importing goods expect to: make payment only when exporters actually deliver the goods as agreed in foreign trade contracts. Understanding that wish, VIB Bank will guarantee to issue L/C for you and make payment to foreign exporters on receiving complied shipping documents.
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.
· Minimized risks in foreign trade settlements.
· Fast and accurate transactions
· Effectiveness and cost savings for you
· Sufficient foreign currency source for settlements.
· Corporate finance at preferred interest rate for importing payment
· Free advisory service from VIB Bank for you before having foreign trade transactions with partners.
Service usage instructions
You present your legal documents at the bank on the first transaction or on the changing of the documents:
· Business Registration Certificate
· Registration of Tax Code (notarized copy)
· Registration of import and export code (notarized copy)
· Application for account opening at VIB Bank (copied version)
Documents for L/C opening
· 02 originals of application for irrevocable L/C opening
· 02 originals of application for purchasing foreign currencies (buying foreign currency for deposit)
· 01 original or notarized copy of Foreign Trade Contract attached with Contract of Authorized Import (if it is authorized import).
· 02 originals of Commitment of L/C payment (paying L/C by self-sufficient funds), or Application for funds finance (if paying L/C by funds financing) if L/C deposit is below 100%
Amending L/C:
Documents for L/C amending:
· Application for L/C amendment (01 original as form)
· Documents relating to amendment such as: supplement or amendment of contract, letter for amendment from sellers (if any)
Note: If amendments increase the L/C value, you should provide the Commitment of payment, application for funds finance for the increased amount.
Bill of Lading endorsement and Guarantee for Goods Receipt issuance:
Documents include:
· Application for endorsement of Bill of Lading /issuance of Guarantee for Goods Receipts (01 original) (if any).
· Original Bill of Lading
· Original or copied Receipt
· Letter of Goods Receipt from transporters.
· After verifying the financial funds to assure importer’s payment, VIB Bank will immediately endorse Bill of Lading or issue Guarantee for Goods Receipt for your company
Import L/C payment:
For at sight L/C:
· Sign to agree with inconformity of the documents (if any) in document notification sent to your company
· Have sufficient foreign currency in account or submit sufficient funds for buying foreign currency to make payment.
· Receive set of documents.
For tenor L/C:
· Sign Commitment of draft payment and agree with inconformity of the documents (if any).
· Receive set of documents.
· Have sufficient foreign currency in account or submit sufficient funds for buying foreign currency to make payment.
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) 3652743, (08) 8242620