Financial leasing

In order to support our customers who have demand for medium and long-term investment to improve their equipment, to expand their business, the Bank for Foreign Trade of Vietnam (Vietcombank) offer financial leasing service. The customers can use leased property and make installment payment during the agreed time without canceling the contract before due time.

When the due time comes, lessee is entitled to transfer the ownership right, to buy or to lease the property in accordance with agreed conditions in the leasing contract.

Object

-         project construction and mining equipment

-         irrigating and transportation means

-         technological line and industrial equipment

-         medical equipment

-         hydraulic power, mechanical equipment

-         Office and telecommunication equipment

-         professional equipment and other kind of movable property

Requirements

- In terms of legal competence of the enterprise: the enterprise must have legal status; establishment license; its own banking account and stamp. The enterprise has to operate in conformity with Vietnamese law.

-         In terms of financial strength: the enterprise must have feasible financial leasing method, economic efficiency, and the ability to pay leasing debt.

The Leasee’s advance payment ratio must not less than 20% of the total value of the equipment.

Leasing limit

The leasing limit for one customer: According to current regulations, the maximum acceptable leasing limit for one enterprise is about 22.5 billion VND

Term of leasing

The term for financial leasing contract is mainly from 1 to 5 years or otherwise agreement.

Leasing cost

Including interest rate and management cost to ensure the competition.

Term of payment

The leasing principal and interest will be repaid in periodically i.e. monthly or quarterly or otherwise agreement stipulated in the contract.

Financial leasing documents

Legal document

-         Decision to establish the enterprise

-         Statute

-         Business registration

-         Operation license issued by the relevant organisation (for industries that require license by the State)

-         The decision to appoint director, chief accountant, list of authorised signature

-         Other legal documents related to the legal status of customers

-         The minute of the Board of Directors regarding the new investment (or decision of the Board of Management of the enterprise on new investment)

Documents related to the financial strength, business manufacturing ability of customers

-         Periodical financial report (Profit and loss statement, balance sheet)

-         Cash flow (if any)

-         Examination, investigation report  (if any)

-         Extraordinary report to authorised organisations (if any)

-         Detailed debt report (if any)

Financial leasing documents of customers

-         Leasing application (following the form of Vietcombank Leasing Company)

-         Business manufacturing project prepared by the company

-         Offer for equipment together with technical documents

-         Biding documents (if any)

Contact address

Vietcombank Leasing Company (VCB Leaco)

Office 10 Thien Quang Str., Hai Ba Trung Dist., Hanoi

Tel. 844 8226 455-8223864,  E-mail: vcb-leaco@hn.vnn.vn

Fax: 844 8223 862