Export Transactions
Letter of Credit (L/C)
v 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 Gadaa bank.
v 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)
v Under this mode of payment customers shipped the agreed up on goods to the buyer and present shipping documents along with covering letter to the bank for collection of payment.
v Required Document: Commercial Invoice, Sales contract, License, undertaking letter and TIN certificate (additional documents may be requested as and when situations demand).
Advance Payment
v This is the most basic / preferred payment methods for goods. The supplier receives cash in advance from the buyer before goods are shipped.
v 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
· The consignment sales are applicable to the perishable items such as fruits, cut flowers, meat, live animals, molasses and others in accordance to the updated list provided by NBE,
· 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)
Gadaa Bank has partnered with leading international operators to give you worldwide coverage and convenience, including
Dahabshiil
Ria Money transfer
For more information please visit your nearest branch.
Gadaa Bank has partnered with leading international operators to give you worldwide coverage and convenience, including
Dahabshiil
Ria Money transfer