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Outstanding features
Utilities
- An effective instrument to insure the exchange rate risks for the currency that customers are holding.
- Control the business expenses and earnings.
- Respond to personal demands of each customer.
- Enthusiastic and thorough consulting team.
- Extensive trading network.
Features
Sacombank sells options to customers and does not buy options from customers..
- Traded currencies: EUR/USD, GBP/USD, AUD/USD, USD/CAD, USD/JPY…
- Not applicable to Gold and Foreign currencies/VND
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Foreign exchange option transactions for an active source of foreign currencies for enterprises.
Option types:
- Call option: With the expectation that the exchange rate will increase in the future, call options will help customers purchase an amount of foreign currency with a rate lower than the market exchange rate.
- Put option: With the expectation that the exchange rate will decrease in the future, put options will help customers sell an amount of foreign currency with a rate higher than the market exchange rate.
Option categories:
- American option: Option buyers have the right to exercise the option at any time during the effective duration of the contract.
- European option: Option buyers can only exercise the option at the due date of the contract.
Contract term:
- 1 day minimum
- 365 days maximum
- Minimum scale: USD 50.000 or equivalent foreign currencies that Sacombank accepts from time to time.
- Option premium: is the amount of money that the option buyers have to pay the option seller after the transaction is made.
Option exercise time:
- For the European option, it is 2:30 PM Hanoi time of the expiration date.
- For the American option, it is from 7:30 AM - 11:30 AM and 1:30 PM - 2:30 PM every working day during the effective time of the option.
Conditions & Procedure
Conditions:
- Customers purchase foreign currencies forward: Customers present exhibits and documents providing sufficient information about purposes, amounts, currency types and payment terms, transfer in accordance with current regulations about foreign exchange management and Sacombank.
- Other cases: No need to present documents.
Procedure:
- Sign the principle contract, the risk declaration and the transaction registration form.
- Open a deposit account and make a deposit according to the regulations.
- Customers commit to pay in full and on time the option price according to Sacombank’s regulations.
- For more details about the solution, please contact email address: Treasuryinfo@sacombank.com or Sacombank’s Customer Service Center at phone number 1800.5858.88 or the nearest Branches/Transaction offices.
