At Vattanac Bank, our experts can support your trade operations with a range of import and export services. Here are our export services.
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This is where, at the request of the issuing bank, the Bank (the advising bank) receives the LC and notifies the beneficiary (the exporter). The Bank can, at the request of the issuing bank, also add its confirmation to the LC, with an undertaking to pay if all the LC terms and conditions are met. Usually, the advising/confirming bank is located in the same country as the beneficiary.
This is where, upon shipment of goods, the exporter presents related documents to the Bank for negotiation or payment or acceptance. The Bank checks the documents presented against the terms and conditions of the LC in order to determine compliance.
Advances can be given on the export LC proceeds, if the documents given by the exporter are in compliance with the LC terms and conditions, subject to the Bank’s approval.
On selective basis, pre-shipment financing may be considered where exporters are able to obtain advances against an LC which is in favor of the exporter.
This is where the exporter collects payment from his overseas buyer (the importer) through the Bank. After the shipment of goods, the exporter entrusts the trade documents to the Bank, with specific instructions and terms for their release to the buyer.
The Bank sends the documents to the Buyer’s Bank overseas and requests for payment as per agreed term either by D/A (Documents against Acceptance) or D/P (Documents against Payment). Upon receipt of payment/the proceeds, funds will be credited to the Buyer’s account.
Should you have any inquires please contact Vattanac Bank Trade Finance and Financial Institutions Department.
Address: No. 89, Preah Norodom Blvd., Phnom Penh, Cambodia
SWIFT Code: VBLCKHPP
Telephone: (855) 023 212 727
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