International Banking Services
Export Trade Service
Export Trade Service
Export Trade Service
Export Advance Payment (TT);
When the customer receives advance payment and makes goods ready for shipment, other than coffee, it requests the bank to issue export permit by presenting the required documents as per the NBE’s directive:
Export Letter of Credit (L/C);
An export letter of credit refers to a foreign bank undertaking issued on behalf of foreign importer. The issuing bank specifies all the requirements of its customer in the Letter of Credit and undertakes to honor all drafts drawn in conformity with the credit terms and conditions.
Export Cash Against Document (CAD);
After goods are forwarded for export, the customer/exporter presents shipping documents to the bank for collection of payment.
Export Advance Payment (TT);
When the customer receives advance payment and makes goods ready for shipment, other than coffee, it requests the bank to issue export permit by presenting the required documents as per the NBE’s directive:
Export Under Consignment;
Consignment method of payment shall be approved only for exporters against letter of undertaking for repatriation of export proceeds of the goods.
Required documents for Export – Advance Payment approval
- Valid trade license for export.
- Tax identification number (TIN) certificate.
- A copy of sales contract.
- Three copies of invoices.
- One set of export application.
- Evidence of foreign currency receipt of Banks or valid foreign currency cash receipt together with customs declaration.