1. Export Collection

Product description: This is the method of payment in which the exporter authorizes IVB (as the Remitting Bank) to send the shipping documents to the Collecting Bank for collection of funds from the importer.

Product benefits:

• Secure payment for the exporter because the Collecting Bank only hands over documents to the importer provided that the importer pays/accepts to pay.
• Documents can be discounted at IVB, so that increasing its liquidity.
• Export financing support from IVB.
• Easily tracing the status of documents thanks to IVB’s correspondent banking network worldwide
• Competitive fees, prompt service and information security for customers.

Types of Collection:

• Document against Payment (D/P): The importer must pay at sight in exchange of the original documents from the Collecting Bank for goods pick up.
• Document against Acceptance (D/A): The importer must accept on the time draft to pay at maturity in exchange of the original documents from the Collecting Bank for goods pick up.

2. Export Letter of Credit

Product description: Indovina Bank will advise the L/C and is authorized by Issuing Bank and/or chosen by the beneficiary to be the nominated bank to present the original documents to Issuing Bank for payment under L/C.

The Export L/C products:

1. Advising of L/C/Amendment

Product description: IVB takes responsibility to check the authenticity of the L/C/ Amendment and advises to customer.

Product benefits:

• Enjoy prompt and accurate service
• Free advices on unfavorable terms in L/C contents even before the issuance of L/C in order to reduce risk and cost for customer.

2. Checking documents presented under L/C

Product description: In the role of Presenting/Negotiating Bank, IVB will receive and check the original documents’ compliance, simultaneously, it will give advices to customer for establishing the documents complying with L/C terms and international practices for getting fastest settlement with minimum cost.

Product benefits:

• Professional and careful consultancy to avoid discrepancies when establishing the original documents
• Negotiation of documents at IVB against complying documents with competitive interest rate and simple procedures, meeting the fund demand of customer
• Financial support from export financing program
• Fast and accurate service with competitive fees

3. Transferable L/C

Product description: In the role of Transferring Bank, IVB will, based on the nomination of the transferable L/C and request of the first beneficiary, transfer the L/C, in whole or in part, to the second beneficiary, and then receive and check the original documents received from the second beneficiary and present to the Issuing Bank.

Product benefits:

• L/C transferred by IVB does not affect the facilities of the first beneficiary (IVB’s customer)
• Provide to all parties (buyer, trader, seller) a suitable, secured and efficient solution with low cost.
• Get free advice from IVB to establish the complying documents, for purpose of getting prompt settlement and lower cost.

4. Negotiating/Discounting with recourse of export documents (under L/C/Collection)

Product description: IVB supports customer’s financial demand by negotiating/discounting the complying documents received by IVB and presenting them to Issuing Bank/Collecting Bank for payment.

Product benefits:

• Prompt negotiation with competitive interest rate and high negotiation rate.
• Support to check documents and free consultancy to establish the original documents complying with L/C terms and conditions and international practices.
• Easily tracing the status of documents due to IVB’s correspondent banking network worldwide.
• Transaction/information is processed safely and confidentially for customers
• Safe and secured
• Fast and accurate service with competitive fees