At Shinhan, We believe that your success is our success.
Therefore we are committed to bring our best efforts in a Shinhan Way to make any of your dream become possible.
A variety of financial services are provided in a timely manner for the smooth trade transactions and overseas remittance to bring you benefit. Shinhan Bank Vietnam is pleased to provide the best services with high export-import expertise and a state-of-the –art system
Opening Letter of Credit (L/C)
Benefits:
- Acceptable by all correspondent banks worldwide
- Fast and easy : opening an L/C within 8 working hours
- Accessible and strong financial support with favorable interest rate
- Professional consultancy to reduce your cost and risk
Documents Required
- Application for LC Opening
- Sales contract
- Import License or Quota (if any)
-Legal document for opening new account ( at first transaction with the Bank).
Bill Endorsement/Shipping Guarantee
When the goods arrives earlier than document, we are here to make sure you can receive your goods immediately by issuing a Letter of Shipping Guarantee or make endorsement on your Bill of Lading.
Incoming L/C Documentary & Settlement
- Upon the arrival of L/C document, we check if the document is fully complied with the L/C and advise you immediately.
- At sight L/C: you receive the document and payment effected in the next working day.
- Deferred L/C: you receive the document after confirming the maturity date. We shall debit your account to effect the payment on due date.
Documentary Collection for Import Bills (D/A, D/P)
- We advise you within the same working day upon arrival of collection documents.
- D/P collection: Payment shall be made to receive the documents.
- D/A collection : to receive the documents, you need to make payment commitment on paper or to sign the bill of exchange.
Import Trust loan
We finance the cost for your imported goods, collect loan repayment from sale of goods.
Loan Limit:
-Revolving loan: up to ½ of total import amount during the last 12 months or ½ of total import amount expected in the next 12 months.
-Non-revolving loan: up to real amount of import.
Period: The initial Period of each Trust Receipt Loan in which the borrower sells the goods and collect money should not exceed maximum 6 months under prearranged interest rate.
Interest rate: We offer you the most competitive rate in the market, based on the your company’s credit ratings and collateral.
For further information, please contact
our Relationship Manager or nearest branches
for assistance
