MODULE 6-7

Sources of Vietnamese Laws governing international payment

• Vietnam Commercial Law 2015
• ORDINANCE ON NEGOTIABLE INSTRUMENTS
• Law of transfer 2005

Sources of International Laws governing international payment

• Uniform Law for Bills of Exchange and Promissory Notes. 1930
• Bill of Exchange Act of 1882 – BEA
• Uniform Commercial Codes of 1978 – UCC
• Uniform Rules for Collections - URC 522
• The Uniform Custom and Practice for Documentary Credits UCP 600
• Uniform Rules for Bank-to-Bank Reimbursement – URR 725
• International Standard Banking Practice Under Documentary Credit – ISBP 745

Payment method: Remittance (Telegraphic Transfer - T/T)

• Details of workflow of T/T payment method in international trade: participants, steps, time of payment and place of payment;
• How to draft and deal a payment term in commercial contract in case of using T/T payment method;
• How to effectuate internal workflow in entrepreneurs in case of using T/T payment method;
• How to combine the T/T payment term together with delivery terms in a commercial contract; T/T with Incoterms 2010;
• Payment practice at some banks in Vietnam: Tips for exporters and for importers;
• Advantages and disadvantages of T/T payment method: Tips for exporters and for importers;
• Risks and dispute resolution in international payment and practical experience: 05 case-study from final decision of international economic arbitration.
• Bank charge for T/T payment method at some big banks in Vietnam: comparison and recommendation among Vietcombank, Sacombank, Vietin Bank, Exim Bank, HSBC, ANZ…
• How to follow the payment process from customers in case of using T/T payment method.
• How to prepare goods documents in case of using T/T payment method.

Payment method: Documentary Credit (Letter of Credit – L/C)

• Details of workflow of L/C payment method in international trade: participants, steps, time of payment and place of payment;
• Important contents and fields of an L/C;
• Guidance on use of 11 special types of L/C;
• How to use L/C in case of 3rd-party business;
• How to draft and deal a payment term in commercial contract in case of using L/C payment method;
• How to effectuate internal workflow in entrepreneurs in case of using L/C payment method. How to make a deposit in bank;
• How to match the L/C payment term and delivery terms in a commercial contract; L/C with Incoterms 2010;
• Practice of payment at some banks in Vietnam: Advices for exporters and importers;
• Advantages and disadvantages of L/C payment method: Advices for exporters and importers;
• Risks and resolution for arguement in international payment and practical experience: 05 case-study from final decision of international economic arbitration.
• Bank charge for L/C payment method at some big banks in Vietnam: comparison and recommendation among Vietcombank, Sacombank, Vietin Bank, Exim Bank, HSBC, ANZ...
• How to follow the payment process from customers in case of using L/C payment method;
• How to prepare and check goods documents in case of using L/C payment method following UCP600 & ISBP 745 in order to avoid payment deny or discrepancy fee from bank;
• How to negotiate documents to the banks for early payment.