Documentary collection

Documentary collectionDocumentary Collection

DEFINITION of 'Documentary Collection'

Letter Of Credit

Bill Of Exchange

BREAKING DOWN 'Documentary Collection'

A key document in documentary collections is the bill of exchange or draft, which is a formal demand for payment from the exporter to importer. D/Cs can be classified into two types, depending on when payment is sought by the exporter: 1) documents against payment (D/P), which requires the importer to pay the face amount of the draft at sight, or 2) documents against acceptance (D/A), which requires the importer to pay on a specified future date.

In a D/P collection, the exporter ships the goods and then gives the shipping documents to his or her bank (which is also known as the remitting bank). The bank forwards these documents to the importers bank (known as the collecting bank), which will only release the documents to the importer on receipt of payment for the goods. The collecting bank then remits the funds to the exporters bank for payment to the exporter.

A D/A collection differs from a D/P collection because the exporter extends credit to the importer through a time draft in the latter case. Once the importer signs the time draft which becomes a binding obligation to pay by the due date shown on the draft because of the signed acceptance the documents are released to the importer. The collecting bank contacts the importer on the due date for payment, which upon receipt is remitted to the exporters bank for payment to the exporter.

The exporters risk is obviously higher in the D/A collection process, since the exporter has no control over the goods after the importers acceptance and may not get paid for them.

In terms of risk, D/Cs are much safer than an open account but have fewer safeguards than a letter of credit. since the banks neither guarantee payment nor verify document accuracy and authenticity. These features can be exploited by fraudsters posing as either the exporter or importer. As a result, D/Cs are not recommended for exports to nations that are politically or economically unstable. Overall, because of their lower cost and simple process, D/Cs are best suited for established trade relationships in sound export markets, and for transactions involving ocean shipments rather than air or land shipments which are more difficult to control.


Documents&reportsVietnam 2010. entering the 21st century Vietnam development report 2001 - overview (English)

The Vietnam development report 2001 entitled Vietnam 2010: entering the 21st century is a three-volume set consisting of an overview and two parts. The first part of the report comments on the comprehensive development agenda laid out for the next decade. See More + The Vietnam development report 2001 entitled Vietnam 2010: entering the 21st century is a three-volume set consisting of an overview and two parts. The first part of the report comments on the comprehensive development agenda laid out for the next decade. It starts with a framework for rapid growth and poverty reduction and then examines the strategies required for: (i) enterprise development; (ii) rural development; (iii) human and social development; (iv) infrastructure development; (v) environmental quality; and (vi) good governance. Since the government is formulating a long-term development agenda, it will need to take a comprehensive approach to development and tackle all these pillars of development. Without progress on all fronts, Vietnam will not be able to achieve the economic and social transformation that it desires. The second part of the report entitled partnerships for development addresses this theme of stronger partnerships to help the Government of Vietnam to attain its vision and implement its strategy. It brings together a series of thematic notes on Vietnam's development strategy, prepared by the development partnership groups in Vietnam. These notes seek to describe and distil Vietnam's goals and the steps needed to get there. They also describe how the donor community can help Vietnam in attaining its vision. The work of the development partnerships, and the production of these notes, are indicative of an important new direction in international development cooperation, both in Vietnam and in many other countries. See Less -

Vietnam stock market hose best stock trading room statistical trading strategies pdf insurance for h

Vietnam stock market hose best stock trading room statistical trading strategies pdf insurance for hVietnam stock market hose best stock trading room statistical trading strategies pdf insurance for home business ontario

mai 20, 2015

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Australia helps vietnam with vocational training

Australia helps vietnam with vocational trainingAustralia helps Vietnam with vocational training

Ambassador Borrowman made the comment on May 29 at a seminar in Hanoi in reference to a US$765,000 Australian government funded project providing vocational training for professionals between Vietnam and Australia.

Cao Van Sam, deputy director of the General Department of Vocational Training in turn said workers lacking vocational skills negatively affect productivity, income and economic efficiency of businesses.

Vietnam has adopted a vocational training strategy from now until 2020 with a vision to 2030, which devises many solutions including an internal solution and international cooperation solution.

Participants at the workshop including representatives from government agencies and training units as well as Australian experts compared notes on priorities, challenges and strategies to encourage businesses to invest in the vocation training sector in the future.

The vocational training reform project aims to share Australian experience in connecting the education and vocational training sector to businesses so that education and training meets business demands.

Free forex currency tips

Free forex currency tipsFree FOREX Currency Tips

Forex Markets ot the currency markets are one of the most widely growing markets of the world. Trading activities are increasing day by day to an enormous level. With very high liquidity and trading action the international currency markets are being given more and more attention by traders world wide. More traders on a daily basis speculate in the FOREX futures on the exchanges as well as people come here to hedge their business positions the exporters and the importers.

Vietnam stock exchange hours us stock market futures index stock broker jobs dublin georgie cox onli

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Forex-gold trading

Forex-gold tradingForex Trading in Pakistan

Benefits for attending the course: This field has a critical importance for financial institutions, investment companies and stock traders.

Understanding the importance and function of Foreign exchange Gold market

Stock traders/Investors can enhance their Fundamental and technical analysis skills

Investors can learn how to maximize profit and perform money management

Investment companies can help their clients for better investment options

Exporters and Importers can save foreign exchange losses from market fluctuations

Learn to create and maintain a diversified investment portfolio

Acknowledgement certificate would be awarded to course participants

Benefits for Gold traders and investors

Understanding the importance and function of International Gold market

Understand the risk and rewards of investing in Gold in present economic scenario

Technical and fundamental analysis of Gold

How investors can save themselves from losses in Gold future contracts and rate fluctuations

Gold as a safe haven against paper currency

This course includes following topics:

Introduction of Foreign Exchange Market

Introduction of Gold Market

Factors which affect the Foreign Exchange/ Gold Market

Fundamentals Analysis

Economic Indicators

Techniques Strategies of trading in Gold Forex

Foreign Exchange Market

Gold Market

Factors which affect the Foreign Exchange/ Gold Market

Fundamentals Analysis

Economic Indicators

Techniques Strategies of trading in Gold Forex

Money Management

How to manage your own trading portfolio

Technical Analysis

Technical Indicators

Best Currency for saving

Money Management

Risk Management

How to manage your own trading portfolio.

Who should attend this course?

Treasury Personnel

Stock Brokers

Commodity Brokers

Asset Management Companies

Insurance Companies

Mutual Funds

Individual Investors

Forex traders

Gold traders

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Vietnam-s middle class set to double by2020bcg

Vietnam-s middle class set to double by2020bcgVietnams middle class set to double by 2020: BCG

The middle and affluent class (MAC) in Viet Nam will double in size between 2014 and 2020, from 12 million to 33 million. MAC consumers, whose income is from VND15 million (US$714) or more a month, are also spreading out to other provinces and cities.

By 2020, Vietnams average per capita income will rise from $1,400 to $3,400 a year.

The Boston Consutlting Group (BCG) Center for Consumer and Customer Insight (CCCI) recently surveyed more than 3,000 urban consumers in Vietnam and Myanmar. The analysis provides a granular forecast of consumption, by product category, in both countries.

By combining consumer research with income forecasts, the CCCI study provides a perspective into where companies should target their efforts based on their product portfolio and how quickly those markets will develop. This analysis affords a more nuanced view of consumers and consumption than traditional consumer research. For example, many models set an arbitrary floor for the consuming segment that is adjusted by country based on cost of living or purchasing-power parity. The CCCI methodology, in contrast, sets the income floor on the basis of when actual spending starts to take off for a wide array of goods and services.

By 2020, Vietnam’s MAC population will be two-thirds the size of Thailand’s MAC population. Average per capita income will rise from about $1,400 to $3,400 per year. It’s no wonder McDonald’s announced recently that it would join KFC, Starbucks, Pizza Hut, and Burger King in opening stores in Vietnam.

MAC consumers in Vietnam are not just growing in numbers; they are also spreading out. Today, a company can reach one-half of Vietnamese MAC consumers by serving Ho Chi Minh and Hanoi provinces.

But between now and 2020, several sizable groupings of MAC consumers will crop up along the 1,200-kilometer-long spine that connects these provinces, the country’s largest. As a result, Ho Chi Minh and Hanoi provinces will account for only about one-third of MAC consumers by 2020, and a company will need to have a presence in nearly twice as many locations as it does today to achieve comparable coverage. (See Exhibit 3.)

Tuomas Rinne, partner and managing director of BCG, said along with Myanmar, Vietnamese consumers were among the most optimistic in the world, even more than their counterparts in China, India, Indonesia and other fast-growing emerging markets.

The survey pointed out that Vietnamese consumers, of all incomes, enjoy the hunt for deals, discounts and promotions, more so than consumers in Thailand and Myanmar.

In order to project the growth of consumers and their spending in Viet Nam, BCGs Centre for Consumer and Customer Insight analysed population and income trends in nearly 1,400 areas and surveyed 2,000 urban consumers in the country.

Read more

About currency correlation

About currency correlationAbout Currency Correlation

Some currency pairs are correlated and some are not. Lets try to see what currency correlation is. But before talking about Forex correlation, lets start from the macro level.

Every currency has its own characteristics:

There are safe heaven currencies which attract investments when there are major economic turmoil and risks to global economy is perceived to be high. These currencies are considered to be safe investments when the risk appetite is low.

There are commodity currencies from countries which are major commodity exporters and the health of those economies and hence the health of their currencies depend on the growth of commodity exports.

There are low yield currencies with very low inflation rate and hence very low interest rates and then there are high yield currencies.

There are economies and currencies from nations which are large and net exporters and then there are those who are large and net importers.

The points mentioned above are just on macro level but what these reflect that many of the economies across the globe are correlated. It may be a strong positive correlation or a strong negative correlation or it may be weak ones but if some economies have correlations then it is natural that their currencies would also have correlation. The strength of a currency is nothing but the strength of that economy. So currency correlation basically represents the correlation of those economies.

So when we say that every currency has its own characteristics, we should also say that many of those characteristics are shared with other currencies and are common with some other currencies. This is like families of currencies. The currencies of one family or with similar characteristics would behave similar to each other during various kinds of economic scenarios or market sentiments. For example when there is a perceived risk for global economy, the currencies when may be considered as safe, would become stronger or when there is more risk appetite because of higher confidence in the health of global economy. the currencies with high yield but more risk factor may shine better.

To summarize it, we can say that we do not have to analyze each currency individually but on a macro level we can divided currencies in different groups or families and the initial analysis can be for the individual groups or families and not just the individual currencies. The currencies of on group may tend to behave similarly and move in the same direction normally.

Now to go one step more into detail about currency correlation, lets see what kinds of relationships are possible between currencies:

1) Generally behaving in the similar way i. e. positive correlation.

2) Generally behaving in the opposite way i. e. negatively correlated currency pairs.

3) Not caring about each other or random relationship i. e. no correlation.

The above is the essence of currency correlation. To summarize again and in other words; some currency pairs tend to move in the same direction most of the time, some currency pairs tend to move in the opposite direction most of the time and some currency pairs do not show any relationship and their moves are completely random in relation to each other. These are positive correlation, negative correlation and no correlation respectively. Lets see some of the practical and live examples of currency correlations as follows and we will be talking about the details of Forex correlation on other sections of this site.

Why Currency (Forex) Correlations are Important

Forex correlation need to be understood on macro level and need to be kept in mind, especially when we trade with multiple currency pairs. There is no need to check it on daily basis if the trades are not based on some kind of correlation system. In fact we would always recommend to avoid trading any suggested correlation system. It would simply be too complicated and not worth your time and risks.

We need to be simply aware of the correlation in different Forex pairs so that we avoid cancelling any profits by taking any opposite positions for any Forex pairs which have strong positive correlation or taking the similar positions for two Forex pairs which have strong negative correlation.

Vietnam adevelopment success story

Vietnam adevelopment success storyVietnam: a development success story?

Global development is supported by:

It's 8am in Hanoi and already thousands of motorbikes, mopeds and scooters flow through the streets. Some sway with the weight of two or three passengers, boxes of merchandise, sacks of rice, or tied-down pieces of furniture that look heavier than vehicle and driver combined.

For the first-time pedestrian, crossing the road is a daunting experience, but, amid all the apparent chaos, the system works. The trick is to just walk when you can, and let the torrent of bikes flow around you. Don't look left, don't look right. Just walk.

This functioning chaos contrasts sharply with the mostly prudent macroeconomic course that Vietnam has been taking. The Doi Moi. or renovation economic reforms were launched in 1986, emulating China's move to open up its markets, after more than a decade of stagnation since the fall of Saigon to the Vietnamese communist forces.

Vietnam has changed rapidly in the past 10 years, but locals say the country still lags behind its neighbours, such as Thailand and Malaysia, which have a gross national income (GNI) per capita of $3,760 and $7,230 respectively. Last year, Vietnam's GNI per head was US$1,010, highlighting the country's impressive progress on eradicating extreme poverty. Hanoi is a far cry from the quiet, inward-looking city it was prior to Vietnam's economic take-off, though rural poverty persists, particularly in more remote and ethnic minority areas.

How to maintain this progress is the key challenge facing Vietnam's policy makers. Thailand and Malaysia are hemmed in by the so-called middle-income trap, which suggests that while countries can move up from the ranks of the very poor, moving further forward is more complex, as competitiveness falls off and costs for investors increase. With the middle-income trap comes widening inequalities, as vast wealth often gets concentrated in a few hands.

Kuala Lumpur this year announced ambitious plans to transform Malaysia into an OECD-standard economy, attempting to emulate the rise of South Korea. once one of the poorest countries in the world. Crucial to South Korea's rise was education reform, and that is one area in which Vietnam is doing well. In Hanoi, conversations with young Vietnamese professionals and students were all peppered with references to the importance of a good education to Vietnamese people. Investments in eduation and health were part of Vietnam's renovation reforms.

Vietnam has just been promoted to this middle division of the international economic league tables, but wants to keep moving up the ranks. In common with much of Asia, Vietnam's economy is vaulting clear of the global slowdown – which in hindsight now looks more like a western malaise. Growth for 2010 is projected to beat the 5% recorded last year – though these numbers are down on the 6.5% -8% average for the previous decade.

The opening, in October, of technology firm Intel's largest plant in the world, in Ho Chi Minh City, was a high-profile reminder of the country's emergence as an investment target for multinationals. Intel president and chief executive Paul Otellini joined Vietnam's deputy prime minister, Hoang Trung Hai, at the opening, with Hai remarking that the new facility supports our goal of accelerating economic transformation led by technology-intensive industries. Less than a week later, at the culmination of the East Asian and ASEAN summits, held in Vietnam, US secretary of state, Hillary Clinton, witnessed the signing of investment deals by Microsoft and Boeing.

However, Vietnam's move out of poverty and its economic growth owes a good deal to the thawing of its relations with the US and the subsequent forging of trade and investment links. The US is Vietnam's second largest trade partner, but its largest is China. Despite all the historic enmities - Vietnam was a Chinese colonial outpost for a millennium – the Chinese style of political economy was adapted. The ambivalence toward the emerging superpower to the north endures, with Hanoi now trying to balance the fears aroused by Beijing's growing assertiveness with the economic realities of having China as a neighbour.

Vietnam has been sidling closer to the US, letting China know that it has options should Beijing lean too hard on its smaller neighbours. When the naval destroyer USS John S. McCain docked in Da Nang port in mid-August. the symbolism was rich. The ship is named after the grandfather of 2008 US presidential candidate John McCain, a former prisoner of war in Vietnam.

However Hanoi's strategy will likely be a balance between the two giants. China's presence in Vietnam's central highlands has proved controversial, with plenty of criticism fired at the ruling communist party by bloggers and writers who think that the country's rulers have sold out to Beijing. Their focus has been on mining projects run by the Chinese, citing environmental concerns – a downside of Vietnam's economic rise - and the siphoning-off of Vietnamese resources to China.

However, this outcry in turn has prompted a clampdown on opposing voices ahead of the five-year party congress, scheduled for early 2011. Around 20 activists have been arrested or jailed since October, a clear signal that, like China, Vietnam's one-party rulers will not cede power or allow democracy to play a part in its renovation. And other damaging aspects of China's governance model have been adopted.

Vietnam's two-child policy has doubtless done a lot to boost the country's progress in the millennium development goals in terms of reducing child and maternal mortality, but is leaving Vietnam with a demographic imbalance. just like China. In Vietnam, according to UN statistics. the birthrate is 112 boys to every 100 girls, as women have an average of three abortions in a lifetime, to meet the two-child policy.

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Si32is areturn to forex controls-expert

Si32is areturn to forex controls-expertSI 32 is a return to forex controls-Expert

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A financial expert says the introduction in of Statutory Instrument number 32 of 2013 has marked a return to foreign exchange controls in Zambia.

Over the weekend, Finance Minister Alexander Chikwanda announced that he had signed SI 32 of 2013 aimed at monitoring balance of payment in a transparent manner.

The new law applies to financial service providers licensed under the Banking and Financial Services Act, and importers of goods or services exceeding 10,000 US dollars or the equivalent in other foreign currency.

And any person, who contravenes any provision contained in SI 32 of 2013, will be deemed to have committed an offence and is liable, upon conviction, to a fine not exceeding one hundred thousand penalty units or to imprisonment for a period not exceeding ten years, or to both.

But Maambo Hamaundu said although government keeps denying that Zambia has returned to forex controls, the new Statutory Instrument has effectively reintroduced forex controls in a limited fashion.

“For me whether they accept it or deny it, what we are seeing now is a return to foreign controls albeit in a limited manner,” Mr. Hamaundu said.

He said, “You have provisions in the SI that limit the cash amounts that people can withdraw from a financial services provider to US$ 5,000 per month. We never had such restrictions on cash withdraws previously and that in essence is a control.”

Mr. Hamaundu added, “Many of us did anticipate that government was by and large going to introduce some measure of foreign exchange controls and a quick glance at SI 32 shows that there are controls, they have introduced foreign exchange controls although in a limited fashion.

Mr. Hamaundu explained that the new law has also come with a lot of paperwork required to be met by all exporters of goods and services which might add to the cost of doing business.

“All those forms requiring to be filled will bring administrative challenges for most businesses,” he said.

Mr. Hamaundu has warned that the new Statutory Instrument might have long term negative effects on the Zambian economy.

He said foreign investors will opt to sit on the fence and not to commit huge financial resources in Zambia because of the new restrictions.

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Vietnam education

Vietnam educationVietnam Education

August 29, 2012 By ARAdmin

Although still a poor country with low per capita income and years in war, Vietnam has unceasingly recorded great achievements in education.

In 1997, there were 22 million pupils all over the country. Among them, 13.2 million in primary schools (accounting for 58%), 4.3 million in secondary schools, and 26,000 in colleges and universities.

The literacy rate in Vietnam was high (92% of the population). 8% was illiteracy, among them 80% living in remote areas and 60% female.

State budget assigned for education was considerably increased in the last 2 years, taking about 10% of the total, in which 70% 80% were used for paying salary to teachers. Budget share for education is projected to reach 15% by the year 2000.

A bilingual class

The private sector took bout 40% of total direct expenses, of which the larget part was spent for the kindergarten and education basis (about 60%). The basic expenditure for primary schools took about 50%, specialised secondary school about 19% and professional and vocational about 12% of the total expenses.

Besides having trained qualified and skilled workers, the Vietnamese education also has produced world-wide well-known scientists such as Mr. Nguyen Van Hieu, Mr. Tran Dai Nghia, Mr. Ton That Tung etc The communist party and Vietnamese government always attaches great attention to education. In the resolution of the Second session of Central Committee of VIIIth Congress, the Communist Party of Vietnam regarded education and development of science and technics and technology as an important strategy of the country.

Despite of these archievements, the Vietnamese Education System is still facing many difficulties. Many schools and equipped teaching materials not timely updated, teachers have not been qualified as required, and millions of children are still out of school. What must give special attention to, is the education and training policy.

The Education and training development policy

The Education policy:

The National Assembly has passed the Law on Primary Education Proliferation since 12 August 1991.

The 2th session of VIIIth Congress of the Central Executive Committee of the Communist Party held in December, 1996 issued resolution on Orientation and tasks for Education Development strategy in the Industrialization and Modernization process toward the year 2000.

The Education Law adopted by the National Assembly in April 1997 carrying the following major contents:

To restructure the National Education System and the National Certificates System. To consolidate public schools, encourage setting up new semi-public, private schools; allow to open private kindergartens, professional secondary schools and universities as well. To diversify forms of education like full-time, part-time, regular and irregular as well as remote education.

To redefine training and education targets, to re-construct teaching programs, teaching plans as well as the contents and methods suitable for each level and branch to meet the needs of the countrys development. especially those of industrialization and modernization process and educational management workers.

To strengthen legal system in education. Gradually increase budget for education, to mobilise possible from the people, to attract international aid and loans for the sake of education development.

To improve the quality of teachers.

To renovate Educational Management.

2. International Cooperation in Education:

Vietnamese Government puts priority for cooperation in the following fields:

Developing the human resources, concentrating on training qualified and skilled workers, especially, for the fields that utilize advance technology, and for business administration.

Promoting branches and subjects essential for the modernization and industrialization process and for implementation of international cooperation.

Training and recycle training and managerial educational workers, exchange of students, information as well as experience in science and education.

Target by the year 2000:

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Use our searchable database to find domestic and international trade shows, industry conferences, webinars, and other events that can help you.

Trade Leads

The U. S. Government has resources world-wide in Embassies and Consulates that help identify promising trade leads for U. S. exporters.

Use our searchable database to find pre-screened, time-sensitive leads and Government Tenders gathered through U. S. Commercial Service offices around the world.

Online trading business opportunities

Legitimate home corporate banking; exchange fx knowledge. trade online. Extra part-time or get. Bids railway thousands of trading. Worldwide database to sell a few shirts.

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