VietinBank makes advances for Exporting Corporates, and send documentations to Issuing / Collecting bank. The discounting is based on the principles of reserving rights to collect from the Exporting Corporates.
Product benefits
- Working capital financing for traditional methods such as: L/C, collection, TTR; improvement on cash flow; ensure of the working capital, increase of the liquidity of the documentation bills.
- Enhanced competitiveness through grant of credit to importers with the acceptance of delayed payment.
- Receivables collection transferred to the Bank experts, which allows Customers to focus on production and business activities.
VietinBank makes advances for usuance receivables (generally within 90 days), based on the export transactions made on the Trade Card * system, starting from the time:
- When a Transporting Company confirms the delivery on Trade Card system;
- When the importer authorizes the payment on Trade Card system.
* Trade Card is a program provided by Trade Card organization to participants engaging in import and export process (especially for textiles), including: Exporters, Importers, Transporting Companies and Banks.
Product benefits
- Corporates can sell on deferred payment terms but still be financed to ensure the availability of capital for production and business activities;
- Time saving on receivables management and transferring the tasks of receivable collection to Bank experts, that allows Customers to focus on their production and business.
VietinBank finances the supply chain, for both Seller and Buyer based on the commitment payments from the Buyer. With this product, customers will be provided the following services:
- Short-term working capital financing for Seller given the payment acceptance by the Buyer and receivables are transferred to VietinBank;
- Financing for payment obligations for Buyer upon maturity;
- Management of Receivables, Payables, which reduces costs for both the Buyer and the Seller.
Product benefits
For buyers:
- Meeting need of buying with deferred payment;
- Being financed in case of inability to pay upon maturity;
- Save cost in managing and tracking the payables. This product is particularly suitable for buyers with a large number of suppliers.
For sellers:
- Being financed with working capital;
- Reduced collection time for receivables;
- Eliminated or reduced non-payment risk from importers.
