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.