EXPORT
Mainly export deals in:
- Negotiation of documents
- Sending the documents for collection
- Pre-shipment financing
- Post-shipment financing
- Remittance against agent commission
- Forward covered booking
- Handling the documents for negotiation according to the UCP 500 (uniform custom and practices)
- Handling the documents for collection according to URR (uniform rules for collection)
- E form.
- Internal transactions are through Nostro and Vostro accounts.
This section helps the exporters to settle the financial affairs
Registration
Who so ever desires to export the goods first of all he has to get his
name, name of firm, or his limited company registered with the export
promotion bureau. After getting registration, the exporter will be
allowed to export his commodities. In order to get his name registered
with EPB, he has to submit the following documents.
- Bank certificate, showing that the exporter is account holder and have a good dealing with us.
- Income tax certificate.
Documentation.
The exporter must submit the following documents to the negotiation bank.
- Bill of exchange
- Invoices
- Insurance documents
- Bill of loading
As an evidence of dispatch of goods the shipping documentary bill are indispensable part of documents. It is essential for the shipping documents to clearly sale the parties. The name and address of the shipper, the name of consignee. Shipping documents must be drawn out in prescribed from by valid shipping or airlines.
The quantity, description, weight and packing of the goods should agree with the invoices documents must also clearly sale the route that the vessel or airline shall take. The route must be signed and initials should be appears on it.
Sometimes the buyer through the documentary credit requests the sellers to certificate of origin and packing list. After submission of the documents to the negotiating bank seller is bound to receive his payment. The bank on its part to also duly bound to make the payment however it is only reasonable to allow the bank sufficient time to scrutinize the documents that exporter has submitted.
The advising bank certifies From-E after checking the invoices, L/C and the contract attached with From –E. after certification from the bank the exporter then goes to the custom authorities and makes certify form there and finally goes to the port for shipment
