Documentary Credit Advising

Introduction

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.

Benefits

Our professional staffs in Trade department shall check the authenticity of the Documentary Credits (DCs) issued to you within the shortest time.

Professional consultancy shall be provided to minimize your cost and risk.

You have an access to a strong financial support with favorable interest rate.

The most competitive fees are offered.

Other advices on business expanding and trading internationally are provided if requested.

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

This service is available for multiple second beneficiaries transferring

No credit line is required to implement DC transferring

No physical involve in goods

The details/information of the buyers and ultimate sellers is kept confidentially then you can get your commission income without worrying

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

The correspondent banking network worldwide allows Shinhan Bank Vietnam to send documents for collections easily

You can withdraw your money quickly with the reasonable fee

Simple and cost effective payment method in international trading

Documents and payment collection are carried out by the banks, on your behalf

It’s easier and cheaper for buyers to receive Documentary Collections than to issue DCs

Required documents

  • Application for collection document
  • Original full set of shipping documents

Export Dc Negotiation

Introduction

If you wish to discount bills under L/C, Document against Payment (D/P), or Document against Acceptance (D/A), we are here to serve you with high discounting rate, low cost, fast and simple procedure.

TypeL/C NegotiationDocumentary collection negotiation
IntroductionShinhan 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.Shinhan Bank Vietnam provides you with the Documentary collection negotiation for your export documents presented for collection. In case your partner, via the collecting bank, refuses to make payment or fails to make payment, 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 (DC) 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 DC issuing bank, which will reduce the risk of dispute on documents as well as non-payment.

Receive the payment in advance against an expected payment under Documentary Collections

Your business capitals are assured, which allows you to reinvest sales proceeds immediately

Minimizes the impact of export bills on your business

Increase the liquidity of export bills.

You can offer more payment options to customers

Quick and simple procedure is provided

Required documents

Application for export bills negotiation

Original L/C and amendment (if any)

Full set of shipping documents as L/C request.

Application for Documentary Collection negotiation

Original Sales contract and Export Custom Declaration

Full set of shipping documents

Bill of exchange

Foreign Account Receivable Discounting

Introduction

Shinhan Bank Vietnam discounts your accounts receivable based on your assignment of all rights and interest of your short- term foreign accounts receivable (under 180 days)

Benefits

Increase the working capitals to expand your business and trading market

Increase the competitiveness by providing your partner the more favorable payment method

Improves cash flow

Competitive interest rates

Easy to apply for

Required documents

  • Foreign Accounts Receivable Assignment and Application for Foreign Accounts Receivable Discounting
  • Sales contract
  • Invoice
  • Bill of lading
  • Customer Declaration

Export Loan

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

Your working capital is ensured to fulfill your orders

You have fund to cover all pre-shipment costs, manufacturing costs such as raw materials and employee wages

You have access to an extended, flexible financial period

Cash flow is ensured while goods are being packed and waiting for shipment

Expand your business by offering more competitive terms to trading partners