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    WHAT YOU NEED TO APPLY

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    Accordion Sample Description

    In addition to some basic personal information, you should also be prepared to provide the following:

    • Copy of ID/ Passport.
    • Copy of spouse’s ID/Passport (if applicable)
    • The Civil Status Certificate
    • The Physical Address and Phone.
    • RDB / TIN Registration.
    • Memorandum of Shareholders.
    • Resolution of Shareholders (for legal persons).
    • Mortgage: Contract Hire LT or Title, Expertise,
    • Salary: Employment contract, salary certificate, pay slip for 3 months, certificate of indebtedness
    • Collateral: Equipment expertise to pledge, Copy of Equipment Identification and Invoice.
    • Support: letter of guarantee (guarantor).
    • Insurance: Insurance contract.
    • Financial Status: Balance sheet, income statement (when it comes to business) cash flow.
    • Business plan: For beginners
    • Financial situation of the client plus income vouchers: i.e. Contracts

    GENERAL CONDITIONS

    The beneficiary and the supplier agree on a commercial contract.

    1. The customer (importer) requests his bank to open a letter of credit in favor of the beneficiary in accordance with the contract.
    1. The Issuing bank issues a letter of credit with the bank of their choice or a bank requested by the beneficiary (usually his/her own bank) then designated as advising Bank and / or Confirming Bank. It then lists all of the terms and conditions of the contract and agrees to pay the beneficiary’s bank if the documents presented to them are strictly in accordance with the terms of the credit (and in accordance with the Rules and Practices). Exchanges between banks generally use the secure remote transmission system (SWIFT).
    2. The advising bank sends the credit to the beneficiary. If the credit conforms to the banks criteria, the advising bank has the option to confirm or deny the credit (after studying all the risks involved). In this case, it must notify the issuing bank and credit is simply notified to the recipient without any obligation on the part of the advising bank
    3. The beneficiary (seller / exporter), If the client agrees to the overall Loan conditions, and is able to meet and present compliant documents he/she can then perform the contract and ship the goods. Otherwise he will have to request the payer to amend the credit by the issuing bank, this to be sure to comply with all terms and obtain payment.
    4. The recipient. Brings together all the required documents by ensuring that none of them has irregularities within the meaning of credit conditions and Customs and Practice and returns them to the bank. If any irregularity is detected by the negotiating bank, the documents will be rejected and the recipient will not receive any payment.

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