Opening of Letters of Credit

Letters of Credit (LCs) are definite undertakings by the Bank (Issuing Bank) to pay the exporter provided that there are complying presentations as stipulated in the LC within a specific prescribed time.

Vattanac Bank has qualified staff who will take care of your LC transaction in a fast and accurate manner.

Credit Lines to issue or amend importer’s LCs are also available from our Bank. In addition, the Bank facilitates payment or settlement of the LCs, commonly through their conversion to Trust Receipts. The Bank offers credit assessment that is very convenient to you for Trade Line (Credit Line) application.

Import Documentary Collection

Vattanac Bank will act as the collecting bank and reach out to the importer (Buyer) to request for payment against document presentation. We will execute the presenting bank’s disposal instruction whether we release Documents against Payment (D/P) or Documents against Acceptance (D/A).

Trust Receipt

Vattanac Bank provides short-term credit facilities for financing the buyer (importer) when the LC’s bill receivable is due for payment.

Shipping Guarantee

Shipping Guarantees are indemnities given by the bank to the carrier of goods or Captain of the Ship, so that goods can be released to the consignee without presenting the original Bill of Lading or Airway Bill. This helps the importer to avoid demurrage charges/port charges, which otherwise will be imposed if delivery of goods is not completed due to the late arrival of shipping documents.

Vattanac Bank will be your partner and jointly indemnify the Shipper for your goods to be released.

Bank Guarantee

Per customer’s request, the bank issues a Guarantee letter addressed to the beneficiary to guarantee the customer’s performance, financial obligation and other contractual obligation.

Vattanac Bank can issue any of the following:

Inward Documentary Collections

This is where an 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 releases the documents to the buyer only when he meets the payment terms, either by D/A (Documents against Acceptance) or D/P (Documents against Payment). Short-term financing under Trust Receipts is also available at the Bank.

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
Email: service@vattanacbank.com
Facebook: Vattanac Bank