Domestic Single Factoring
Benefits for the customers
- For Buyer: Facilitate goods purchasing with deferred payment.
- For Seller:
- Receive advance from VietinBank upon goods delivery in steads of waiting until payment due date.
- Improved competitiveness by meeting deferred payment needs of buyers;
- 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;
- Reduce/Eliminate non-payment risk from buyers.
Features
- VietinBank provides factoring services for domestic dusinesses who need to manage, collect, advance, and guarantee payment for receivables with deferred payments under 180 days;
- VietinBank carries out two forms of unilateral domestic factoring:
- Unilateral domestic factoring with Buyer's Financial Risk Guarantee;
- Unilateral domestic factoring without Buyer's Financial Risk Guarantee.
Eligibility conditions
- Customers are granted factoring limits at VietinBank.
- Domestic businesses sell goods using payment methods of eighter TTR, open account or D/A. The deferred payment period must not exceed 180 days
- Comply with foreign exchange management regulations, Anti-Money Laundering Law, and comply with regulations by countries.
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