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