Domestic letter of credit
Benefits for the customers
- For Buyer:
- Enjoy longer credit terms depending on specific cases;
- Increase purchasing capability thanks to VietinBank's guarantee of payment with LC;
- Utilize VietinBank's high-quality LC services and easily access VietinBank's capital resources to pay for goods at competitive interest rates.
- For Seller:
- Prompt receipt of funds and improved cash flow in case Seller receive discount;
- Risk management for Buyer: Reduce Buyer's non-payment risk with the LC issued by VietinBank;
- Seller may meet Buyer's requirement to extend payment time.
Features
- VietinBank provides services for Buyers and Sellers to conduct transactions of trading domestic goods in VND:
- VietinBank issues domestic LC to Customers who are Buyers in Vietnam, granting credit to Buyers to pay for the set of documents presented with LC.
- VietinBank informs LC, processes and discounts the presented set of documents at the request of Seller, improving cash flow for Seller.
Eligibility conditions
- For Buyers: Granted credit limit at VietinBank.
- For Sellers: Granted discount limit (in case of L/C discount)
- L/C currency for domestic transactions: VND
- Comply with foreign exchange management regulations, law on anti-laundering money, and regulations by countries.
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