After signing the sales contract, you just request your business partners to send the L/C to Shinhan Bank Vietnam (SWIFT code: SHBKVNVX) via the issuing banks for advising. We commit to take action within the soonest time with the most favorable fees.
Documentary Credit Advising
Introduction
Benefits
How To Apply
- It is recommended that you should get Shinhan Bank Vietnam’s consultancy on terms of payment and the issuing bank before signing the contract.
- You must request your business partners (L/C applicant) to choose Shinhan Bank Vietnam as the advising bank.
Documentary Credit Transferring
Introduction
Transferred documentary Credits (DCs) are used when you are not the ultimate seller such as trader, middleman and buying agent. As the first beneficiary, you may request Shinhan Bank Vietnam to transfer all or a part of the L/C value. We shall make the L/C available to the second beneficiary promptly and efficiently.
Benefits
Conditions for an L/C to be transferred
- L/C is transferrable
- The L/C regulates that Shinhan Bank Vietnam is the transferring bank or the nominating bank.
Required documents
- L/C transfer request
- Original L/C together with relevant L/C amendments (if any)
Documentary Collections
Introduction
Shinhan Bank Vietnam, on the behalf of you, shall send your collection request together with the documents to your business partner’s bank for collection. We then follow up and inform to you when the acceptance is performed or credit to your account the collection amount as soon as the payment is made.
- D/P (Documents against Payment): the Collecting bank does not release the shipping documents to the importer until the payment has already been made.
- D/A (Documents against Acceptance): the Collecting bank does not release the shipping documents to the importer until the Usance bill has been accepted.
Benefits
Required documents
- Application for collection document
- Original full set of shipping documents
Export L/C Negotiation
Introduction
If you wish to discount bills under L/C, we are here to serve you with high discounting rate, low cost, fast and simple procedure.
| Type | L/C Negotiation |
|---|---|
| Introduction | Shinhan Bank Vietnam provides you with the Export L/C negotiation with recourse service which means that we will make payment in advance for all or a part of your export bills’ value and have the right to use the payment amount received from your partner’s bank to compensate the discounted amount. In case your partner’s bank fails to make payment for the export L/C on due date, you should bear the responsibility to refund the discounted amount to SHBVN. |
| Benefits | You can receive immediate payment on presentation of shipping documents under a Documentary Credit transactions Your business capitals are assured, which allows you to reinvest sales proceeds immediately You can offer more payment options to customers without a negative impact on your cash flow You are offered with the flexible fee and charges, favorable trade finance and competitive interest rate Quick and simple procedure is provided Our experienced staffs check your shipping documents and correct errors to ensure the compliance before submitting to the L/C issuing bank, which will reduce the risk of dispute on documents as well as non-payment. |
| Required documents | Application for export bills negotiation Original L/C and amendment (if any) Full set of shipping documents as L/C request. |
Export Factoring (EF)
Introduction
Export Factoring (EF) is a form of open account financing, in which the Bank advance (up to 100% of approved Account Receivables) to the exporter in return for the exporter’s assignment to the Bank of all rights and interests related to its short-term (up to 180 days) A/Rs indebted by the importer.
Benefits
Required documents
- Assignment of Account Receivables
- Application for A/R Advance cum Debt Acknowledgement
- Invoices and supporting documents (e.g. Details of Customs Declaration, Insurance…).
Export L/C Finance
Introduction
We finance to enable you to have working capital for implementation of Export L/C issued in your favor advised through our bank.
- Loan Limit: Maximum 60% of Export L/C’s value, within your working capital requirement
- Period: Not exceeding expiry date of the Export L/C
Benefits
Required documents
- Application for Loan with Repayment sources and plan
- Export L/C which is advised by and negotiated with Shinhan Bank Vietnam
Export L/C negotiation without recourse
Product information
- Shinhan Bank Vietnam negotiates without recourse for documents under export shipper usance L/C upon receipt of acceptance undertaking from Issuing Bank.
- L/C must be shipper usance L/C, not require Bill of Exchange, and nominate Shinhan Bank Vietnam as Paying/Negotiating Bank.
- Requirements(*) of Issuing Bank, L/C terms & conditions, and Customer must be fulfilled to negotiate without recourse.
(*) For further assistance, please visit nearest Branches
