Domestic factoring

Created on 15/3/2010
Updated at 12/7/2010

Through domestic factoring, Agribank looks at financing receiveables arising from sales of goods of economic entities under contractual arrangements.

Main features

 

-          Currency: VND

-          Term: based on the remaining term of the receivables and the ability to recover debts, up to 180 days.

-          Amount: maximum 80% of the value of receivables

-          Security for the factoring: security deposits, pledged assets, collateral, third-party guarantor, and other means of security as guided by Agribank

-          Types of factoring: recourse factoring, non-recourse factoring

-          Factoring method: separate factoring, according to limits, co-factoring

-          Interest: short term interest rates by approval of the General Director of Agribank. Overdue interest rates apply with overdue interest rate not exceeding 150% due interest rate, calculated from the time after the due date for payment that must refund the advance

-          Fees: one-off fees, as regulated in the Schedule of fees and charges


Delivery channels

 

Agribank branches/transaction offices or automated channels (E-banking)

 

Technology applied

 

Agribank uses automated system (IPCAS) to track customer information, accounts, amounts of interest payment, etc. with the highest security and accuracy.

 


Quang Hung
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Copyright. Vietnam Bank for Agriculture and Rural Development 2010. All rights reserved.