Based on customer’s (the applicant/the importer) application, the Vietbank issues the L/C in order to undertake to pay to the beneficiary (at sight/maturity) upon receipt of complied documents presented by the beneficiary.
a. Type of LC: import LC at sight/ usance/ mixed payment/ UPAS.
b. Deposit for issuing LC: Depending on customer’s credit history, LC can be issued with or without deposit.
c. Collateral method: Under regualations of Vietbank at certain time.