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Eximbank's announcement

11/01/2024

Eximbank officially launched the product Payment by C.A.D

Eximbank has just officially launched the C.A.D payment product to meet the diverse payment needs of businesses in international trade.
Currently, in addition to popular payment methods such as letter of credit (LC), collection, telegraphic transfer (TTr)..., the need to use the payment method of delivery of documents to receive money immediately C.A.D is gradually becoming more and more popular. should be popular in Vietnam's import and export contracts because it meets the needs of both buyers and sellers.
According to the CAD payment method, the importer, based on the foreign trade contract, will request the bank to open a trust account (Trust account) at the bank with a deposit value equal to 100% of the contract value for payment. to the exporter when the exporter presents complete documents as agreed. With quite simple procedures and the Bank's participation and control in the payment process, customers have more opportunities to expand commercial relationships, save costs, increase reputation with partners and improve business efficiency.

Target customers: Enterprises importing and exporting goods.

Condition:
Foreign trade contracts have payment terms according to the C.A.D method.
The importer opens a trust account at the bank to deposit payment to the exporter when the exporter presents a complete set of documents as agreed.
There is an agreement/memorandum of understanding on payment conditions as a basis for implementation.

Product benefits:
The seller delivers the documents and receives the money immediately
Payment procedures are quick and simple
Savings due to low costs
Get financial support through the import-export sponsorship program.

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