Letter of Credit
Export & Import Letter of Credit Section
Since our dear country Afghanistan has been in rapid reconstruction and development process in different sectors like; construction, commercial, agricultural, industrial and other sectors by national and international experts of developed countries and advanced technology.
And banks role is to grow and develop economy of the country as well. Therefore; NKB credit department is determined to support different commercial sectors including all private companies and governmental financial organizations and institutions with export & import letters of credit against their contract letters and Performa invoice , so as to has played its role in growth and development of national economy of the country in advance.
With respect to the above-mentioned descriptions; NKB credit department offers export & import letters of credits for applicants based on the procedures which have been approved by NKB Board of Directors with new banking system by (swift) as soon as possible addressing corresponding banks with the following conditions.
Documentary Letters of Credit Conditions:
- To write an application form addressing NKB CEO along with contract or Performa invoice stamped and signed by authorized person of company.
- Company license
- If governmental organizations and departments ask for letter of credit; a formal letter with original copy of contract and Performa invoice signed by the authorized person be sent addressing NKB CEO.
- Applicant’s name, address and banking information.
- Beneficiary’s name, address and banking information.
- CIF – C&F – FOB- CIP
- Time for letter of credit (…..) months.
- Transportation way (by sea, land, air)
- To offer letter of credit for applicants against the contract and Performa invoice is certain; which have been registered by ministry of commerce & industries and chambers of commerce and have confirmed applicant’s tax payment and other commercial expenses.
To receive commission for opening and adjustment of letter of credit is according to commission description as follow:
- 100%Margin deposit or advance payment
- To open Letter of Credit 0/75% commission will be charged from amount of letter of credit
- To extend letter of credit – 2500 AFN or 50 USD will be charged
- To adjust letter of credit -2500 AFN or 50 USD will be charged
- To confirm letter of credit-2500 AFN or 50 USD will be charged
- All corresponding bank’s expenses will be charged upon customer.
- To disobey conditions of Letter of Credit; by any side.
- All expenses of Letter of Credit cancellation will be charged upon customer and L/C file will be closed.