Import & Export Service

Trade Finance services that are suitable to your import and export business

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Import Letters of Credit Services

 A letter of credit is an arrangement in which a bank (issuing bank) at the request and in accordance with the instruction of its customer (applicant) undertakes to pay a third party (beneficiary) or reimburse the paying Bank against presentation of documents and satisfactory compliance with the terms and conditions stipulated therein. It is a legal instrument which binds all parties and issued to facilitate the payment for goods and services

Features

  • The Bank opens letters of credit on behalf of the importer and effect the payment upon receipt of complying document from the advising bank
  •  The letter of credit should be consistent with the terms and conditions stipulated in the commercial contract

Entitlement

  • Applicants engaged in import business

Inward Bill for Collection (Import CAD-Cash against document)

a method of payment for goods by way of handling documents on instructions received from the seller to our Bank, in order to obtain acceptance or, as the case may be, payment from the buyer. Payment could be based on commercial document or clean and could be payable at sight or at later date (acceptance)

Features

  • The Bank effect payment to the seller‟s bank and release shipping document to importer as per the supplier‟s bank instruction document.

Entitlement

  • Applicants engaged in import business

Import – On Advance Payment

Import arrangement where full payment is effected to the supplier before shipment document is received

Features

  • The Bank provides import permit to importers to make the advance payment to their supplier

Entitlement

  • Applicants engaged in import business

Export Letters of Credit Services

A method of payment whereby Hibret Bank facilitates payment to the exporter provided that the exporter complies with the terms and conditions of the letter of credit

Features

  • A provision of Pre and Post shipment financing
  • Export guarantee scheme
  • The letter of credit should be consistent with the terms and conditions stipulated in the commercial contract
  • If the L/C is unauthenticated or bears unacceptable terms and conditions, which cannot be corrected, it will be officially returned to the issuing bank

Entitlement

  • Applicants engaged in import business

Export Bills on Collection/ Cash Against Document

The handling by banks of documents as in accordance with instructions received, in order to obtain payment and/or acceptance, deliver documents against payment and/or against acceptance; or deliver documents on other terms and conditions in line with NBE directives

Features

  • The Bank remitted the document to collecting bank on behalf of exporter upon receipt of shipment document

Entitlement

  • Applicants engaged in import business

Consignment Payment

A method of payment in which the title to the goods remains with the seller until an agent (distributor) in foreign country sells them

Features

  • Payment is made to the seller (Exporter) if and when the agent (distributor) sells the goods
  • Applicable to perishable items such as fruits, flowers, meat, etc and items as approved by the National Bank of Ethiopia

Entitlement

  • Applicants engaged in export business, or other applicants who export perishable materials for various purposes

Advance Payment Export

A method of Export arrangement where full payment is effected to the exporter before shipping document is sent

Features

  • The Bank provides export permit to the exporter up on the effect of advance payment that is full of document value

Entitlement

  • Applicants engaged in export business