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Farooq

Export Transactions

HomeBusinessExport Transactions

International Banking - Export Transactions

  • Advance Payment

    · Receipt of payment in advance for exports.

    · This method of payment can be considered as credit extended by an overseas buyer to an exporter.

    · This is the most preferred method of payment for exports.

    · Required Documents: Advance payment receipt (Incoming Telegraphic Transfer) advice or customs declaration along with bank advice for the sale of the Cash Notes to the Bank. (If deposited in Foreign Currency Cash Notes), commercial invoice, sales contract, License & TIN certificate.

  • Consignment

    · Export on consignment basis is applicable to perishable items.

    · Required Documents: Commercial Invoice, sales contract, License, TIN certificate & undertaking letter to repatriate the proceeds timely (additional documents may be requested as and when situations demand)

  • Letter of Credit (L/C)

    · An export letter of credit is an instrument issued by a foreign bank on behalf of its importing customer favoring an exporter who is customer of BIB.

    · Required Documents: Authenticated L/C (SWIFT MT 700), Commercial Invoice, Sales contract, License and TIN certificate (additional documents may be requested as and when situations demand).

  • Cash against Document (CAD)

    · Exporters may ship their goods to buyers abroad on collection bases at sight or on acceptance bases.

    · Required Document: Commercial Invoice, Sales contract, License, undertaking letter and TIN certificate (additional documents may be requested as and when situations demand).