Báo Cáo International payment service by opening Letter of Credit at Vietnam Eximbank Hanoi Branch

INTRODUCTION

For several recent years, Vietnam economy has much developed along with many domestic and international significant events, especially become the official member of WTO. The amount of trading with foreign companies has got a sharp increase, and the volume of imported and exported goods and services has also increased considerably. Therefore, the international payment with foreign companies becomes very important for settling a long time business trading. Acknowledging these requirements, Vietnam Eximbank has made a strong focus on its international settlement department to help the foreign trade carry out as quickly and smoothly as possible.

After a short time as an intern at Vietnam Eximbank Hanoi Branch, I have gained a lot of practical experiences and learnt that the international payment by opening Letter of Credit is the most favorable method to be transacted between Vietnamese companies and other foreign companies through Hanoi Branch of Eximbank’s services.

Being aware of the importance of international settlement in international business, I have decided to choose topic “International payment service by opening Letter of Credit at Vietnam Eximbank Hanoi Branch” for my field study report.

CONTENTS


ACKNOWLEDGEMENTS . i
LIST OF ABBREVIATION . iv
LIST OF FIGURES AND TABLES v
INTRODUCTION vi

PART 1: LITERATURE REVIEW OF IMPORT AND EXPORT L/C . 1

I. INERNATIONAL PAYMENT BY LETTER OF CREDIT 1