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How Do Import Letters Of Credit Work In Vietnam?

Have you just started your business? Well, there’s no secret that for a small business owner, it’s hardly possible to invest a huge capital for your company. That’s why you should take a glance at every small opportunity that you can use as a tool for your business growth. Most business entrepreneurs look for an import letter of credit in Vietnam for their business growth when there’s any financial crisis. It can help your company out of any critical condition. Also, business investors and clients will take interest in your business as well. Are you finding this post interesting? If yes, scroll down the page and keep on reading today’s post! What Is A Letter of Credit? Letters of credit are a kind of banking itself. The buyer’s banks assure the seller of remitting the amount on his bank using the letters of credit. The entire transaction depends on the contractual agreement between the seller and the buyer. This mechanism is also known as Documentary Credit as well. Anyway, there are d
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What Is A Financial Guarantee in Thailand? And How You Can Benefit from It

 A financial guarantee is a contract issued by a third party or guarantor for supporting the debt of a second party or the creditor for its payments to the ultimate debt-holder or investor. In other words, a financial guarantee in Thailand is an oath to take responsibility for the financial obligation of another company in a case, that company is unable to meet its obligation. The person supposing this liability is considered the guarantor. Features of Financial Guarantees Financial guarantees are basically insurance policies guaranteeing paying a particular debt issue in case the debt issuer faces any financial difficulties.  For big companies, usually the insurance companies or other large, and stable financial companies issue financial guarantees. These are often a parent company for the advantages of a subsidiary.  Financial guarantees can lead to a higher credit rating, reducing the cost to the issuer. While apparently carved in stone, financial guarantors tend to hesitate in extr
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Import Letter of Credit in Thailand: Is it allows the importer to get a better bargain on the prices of imported goods?

Letter of credit is an assurance given by the buyer’s bank to send the amount to the seller through seller’s bank on maturity, according to the terms and conditions of the document based on the contractual agreement between buyer and seller. However, Import Letter of Credit is one of the safest systems of importing goods in Thailand, and it allows the buyers to control shipping dates or facilitates a shipment schedule. If you want to expand your global business with safe payment, then you have to know about import letter of credit in Thailand in details. Carry on reading the upcoming passage to learn more. Documents usually required under an Import letter of credit         A bill or draft         Commercial invoice         Customer invoice         Bill of lading         Certificate of origin         Insurance policy         Inspection certificate   Advantage of import letter of credit in global business A letter of credit transaction reduces the risk of non-performa
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Bank Guarantees In Thailand Can Cover The Liabilities Of A Borrower - Is It True?

It is true that business sometimes needs to GUARANTEE payments and a bank guarantee allows the customer, or debtor, to get goods, buy equipment or draw down a loan. Well, there are different kinds of bank guarantees, including direct and indirect guarantees. However, most people choose Direct Bank Guarantee in Thailand because the direct bank guarantee is a guarantee which is issued by the bank of the account holder directly in favour of the Beneficiary. Are you curious? Well, in today’s article, we will discuss the advantage of bank guarantees in Thailand with an example. Please, carry on reading the upcoming passage to learn more. Bank Guarantees in Thailand A bank guarantee is a lawful agreement, it covers the liabilities of a borrower in case of the debtor’s loss to fulfil proper commitments with another company. It is commonly given by the commercial banks to parties engaged in agreements with foreign or unknown parties, but this system will be valid for a definite peri
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What Are The Reasons For Choosing Financial Company in Oceania Over The Bank?

Financial companies that provide loans and people take and pay that loan at very low interest. You must know that NBFC cannot accept deposits repayable on demand and cannot participate in the payment system. Along with it, a renowned and trustworthy financial company in OCEANIA offer various types of business loan programs including certain benefits to compete with Banks. However, in today’s article, we will show you some points that will help you to understand between a bank and a financial company. Are you ready readers? Reason to Choose Financial Company in Oceania Have a look at the following points that will help you to understand about financial companies in OCEANIA. Such as follows: Customer-friendly: The complex documentation and harshness of Banks makes the availability of business loan exhausted and time-consuming and not all customers friendly. Whereas, NBFCs provide online services for preparing the application, verification of the application, processing etc. w
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Financial guarantees- learn a few essentials

Payment guarantees for business is not a secret. As a business owner, you may agree to experience a few situations when you can’t set many of your business dealings because of payment. You are not an exception, right? Then, why don’t you go for financial guarantees? It is one of the best alternatives to carry on your financial settlements even in the crisis. The financial guarantee can assure you to get loans from a bank or any non-bank financial company. Well, while applying for financial guarantees in a financial company, you will get acquainted with a variety of guarantees. If you are going to apply for such a guarantee for the first time, having no idea is quite natural. Make sure to know all the details before visit any bank or NBFC in this regard. Know different types of financial guarantees A financial guarantee involves a contract or deals with a bank or any non-bank financial company. While facing a financial crisis, you can apply here for loans. The banks or NBFC compani
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Document against payment system: Definition, advantage & steps

Are you affiliated with the business? If you involved in import and export business, then this article is appropriate for you. Here you will, get a solid information of document against payment. Do you want to learn more about it? Then keep scroll down this page. Document against payment Document against payment is an international trade procedure. Here the exporter sends the sight draft to his bank and importer clears all payment through his/her clearing bank. It is an easy transaction process. People, who involved in export and import business, use this payment process. Now read the below points and know the advantage of using this payment process. Advantage of document against payment It is an updated payment method. Those who are involved in a large-scale business, they can buy goods in this payment method. Document against payment less pricey than letter of credit. The document against payment is a system under which a seller instructs the prese
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