With the issuance of immediate or delayed payment LC for importing US agriculture products via VietinBank, Corporate Customers can access import financing with competitive interest rate under the US government-backed agricultural export programs, GSM102 and US EximBank programs.
Product benefits
- Easy access to low cost credit fund;
- Maximum 360 day payment defer from the B/E accepting date;
- Be assured about the Exporters' credibility. The Exporters will be evaluated by CCC / Exim bank / foreign banks and only receive approvals when meeting all requirements of the program.
UPAS L/C is a usance L/C with requirements to pay immediately. Although it is deferred L/C, VietinBank will negotiate with financing banks to pay to beneficiary upon the presentation of specified documents.
Product benefits
- Goods can be bought at spot price and receiving attractive interest rates for deferred payment term;
- Importing corporates who are either eligible / ineligible to borrow foreign currency in accordance with current regulations can have access to credit with competitive interest rates, from the special mobilized funds offered to VietinBank from foreign banks.
VietinBank provides long-term financing for importers based on the guarantees and insurance of export credit agencies (ECA) of exporting countries in Europe, America, Japan, China, Korea ... such as Euler Hermes, SERVE, US Eximbank, JBIC, NEXI, SINOSURE, Kexim.
Product benefits
- Import Corporates have access to long term financing up to 10 years, limit up to several hundred million dollars with competitive and reasonable interest rates.
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 the Seller given the payment acceptance by the Buyer and receivables are transferred to VietinBank;
- Financing for the payment obligations for the Buyer upon maturity;
- Management of Receivables, Payables, which reduces costs for both the Buyer and the Seller.
Benefits of product
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 risks from Importers.
