Advance payment is a method through which a seller receives payment from a buyer prior to shipment or the agreed upon goods or rendering the agreed upon service.
Required documents for Import – Advance Payment approval
- One set of import application.
- Three copies of proforma invoices.
- Valid trade licenses.
- Tax Identification Number (TIN) Certificate.
- Insurance certificate.
- An undertaking letter to produce customs declaration for the entry of goods into Ethiopia or to repatriate the full amount of foreign exchange availed to the importer.
Required documents for Export – Advance Payment approval
- Valid trade license for export.
- Tax identification number (TIN) certificate.
- A copy of sales contract.
- Three copies of invoices.
- One set of export application.
- Evidence of foreign currency receipt of Banks or valid foreign currency cash receipt together with customs declaration.
- Charges shall be collected as per the Bank’s terms and tariff, in case of foreign currency cash receipt.