It is possible that you, as an entrepreneur, have to offer proof to a foreign supplier that you are able to pay for goods to be delivered. You can use an L.C. or request a documentary credit from VCBBank.
A documentary credit is an act whereby the bank undertakes on your application to pay a certain amount to your foreign supplier of goods upon presentation of a number of specific documents.
Some advantages of an L.C. to be:
- that it can be seen as the safest currency for two parties involved in an international transaction
- that the exchange system of documents gives you the guarantee that the purchased goods match your order.
For more information, you can walk in at headquarters or at one of our affiliates.
