In this mode of payment the supplier or seller, surrenders documents to his/her drawer’s bank after which the documents are automatically forwarded to the importers on collection basis.
Required documents for Import – Cash Against Document (CAD) approval
- One set of import application.
- Three copies of proforma invoices.
- Valid trade licenses.
- Tax Identification Number (TIN) Certificate.
- Insurance certificate.
- Three copies of chamberized invoice, certificate of origin, and packing list.
- Three copies of shipping documents (i.e. Bill of Lading, Airway Bill, Truck Manifest, Railway Bill, Courier etc. and/or carrier freight invoice).
- Quality Standard code of products (CIQ) certificate in case of import from China.
Required documents for Export – Cash Against Document (CAD) 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.
- Undertaking letter stating the exporter’s obligation to repatriate full amount of the export proceeds in foreign exchange.