Advance payments are paid only via SWIFT transfer. Maximum value set for advance payment is USD 5,000. Advance payment for imports in excess of set amount requires presentation of First Class bank unconditional guarantee.
Documents required for Permit Approval
a) Import application form duly filled, signed & stamped (as applicable)
b) Proforma Invoice
c) Insurance Certificate
d) Copy of valid foreign trade, investment, industry, agriculture or mining license.
e) Letter of undertaking for importation of goods.
f) Tax registration certificate (TIN certificate)
g) Application letter for the transfer (i.e. for TT mode of payment.)
h) Original title certificate for used vehicles.
i) Third party original price confirmation certified by Chamber of Commerce or equivalent institution for used commodities.
j) NBE issues delinquent importers list periodically. Customer’s name should not appear in the delinquent importers list of NBE for the period. If the name appears, there should be subsequent list indicating the given customer has cleared all outstanding items at NBE.
Expectations from importers on CAD basis
a) Once payments are done by SWIFT, it is totally impossible to get back fund. Therefore, importers should know the correct prevailing account name, account number and bank name of the exporter.
b) The bank does not have any role after advance payment is effected.
c) Importer should make sure entry of consignment to the country. Delays in reporting entry of commodities may end up in name of the importer to appear in importers delinquent list of NBE – making further imports impossible.