Advance payment is a method through which a seller receives payment from a buyer prior to shipment or the agreed upon goods or rendering the agreed upon service.
Import Letter of Credit (L/C);
A letter of credit is a commitment by the bank to pay the seller of goods or services of a certain sum provided the seller presents the documents specified in the terms of the credit.
Required documents for Import Letters of Credit approval
One set of import application and L/C application.
The Importer should be free from NBE Import Delinquent list.
Three copies of proforma invoices.
Valid trade licenses.
Tax Identification Number (TIN) Certificate.
Insurance certificate.
Import Cash Against Document (CAD);
In this mode of payment the supplier or seller, surrenders documents to his/her drawer’s bank after which the documents are automatically forwarded to the importers on collection basis.
Required documents for Import – Cash Against Document (CAD) approval
One set of import application.
Three copies of proforma invoices.
Valid trade licenses.
Tax Identification Number (TIN) Certificate.
Insurance certificate.
Three copies of chamberized invoice, certificate of origin, and packing list.
Three copies of shipping documents (i.e. Bill of Lading, Airway Bill, Truck Manifest, Railway Bill, Courier etc. and/or carrier freight invoice).
Import Advance Payment (TT);
Advance payment is a method through which a seller receives payment from a buyer prior to shipment or the agreed upon goods or rendering the agreed upon service.
Required documents for Import – Advance Payment approval
One set of import application.
Three copies of proforma invoices.
Valid trade licenses.
Tax Identification Number (TIN) Certificate.
Insurance certificate.
An undertaking letter to produce customs declaration for the entry of goods into Ethiopia or to repatriate the full amount of foreign exchange availed to the importer.