Import of goods through drafts order registration Import of goods through drafts order registration

Such imports are made when the parties fully trust in each other. In documentary collection, bank serves as a trustee and intermediate between the buyer and the seller. It delivers to buyer, as instructed by seller, the documents pertinent to shipment of goods and/or performance of services against the receipt of debt or acceptance of draft.

 

Terms and conditions for order registration by draft in the bank

  • Obtaining the necessary legal permits from the ministries and  competent authorities in consideration of the Law on import and export regulations and the corresponding executive bylaws
  • Order registration with the Ministry of Industry, Mine and Trade
  • submission of the required securities and guarantees when necessary
  • payment of the commission for bank services