Commercial Invoice

Commercial Invoice Feature of Commercial Invoice : The invoice is the list of articles containing their particulars and prices. It is also book-keeping instruments for the importer. i. The description of the good / Merchandise in invoice should corresponds  with to that given in the L/C. Sample Commercial Invoice: 1. […]

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Banker customer relationship

Banker and Customer Relationship

Banker and Customer Relationship Banker and Customer Relationship features: Customer: In general, any individual/organization that maintains an account with the bank is treated as a customer. But in some situations, Banker extends their services to the individuals/organizations even if they are not customers as defined above. According to the duration […]

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IRC and ERC Image

What is IRC and ERC?

What is IRC and ERC? IRC and ERC: Required papers / documents to obtain Import Registration Certificate (IRC) Import Registration Certificate (IRC) and Export Registration Certificate (ERC) are issued by the office of chief controller of Import and Exports (CCI & E) of the government. Intending Imports and Exporters are […]

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bank guarantee

What is bank guarantee?

What is bank guarantee? What is bank guarantee? A guarantee is a promise made by the person/organization (or guarantor) to the Banker that he will pay the present or future debt in case of default by the principal debtor. So the guarantor is undertaking to repay the debt in case […]

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URR images

URR 725

URR 725 URR 725 is the acronym of  Uniform Rules for Bank-to-Bank Reimbursements. UNIFORM RULES FOR BANK-TO-BANK REIMBURSEMENTS APPROVED ON 15-16.04.2008. IN FORCE SINCE 01/10/2008 Table of Contents of URR 725 URR 725 – Article 1 Application of URR URR 725 – Article 2 Definitions URR 725 – Article 3 […]

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Multilateral Investment Guarantee Agency (MIGA)

Multilateral Investment Guarantee Agency (MIGA) Formation 1988 Type Development finance institution Legal status Treaty Purpose Political risk insurance, foreign direct investment Headquarters Washington, D.C. Membership 180 countries Executive Vice President Keiko Honda Parent organization World Bank Group Website The Multilateral Investment Guarantee Agency (MIGA) provides guarantees against losses caused […]

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How many risks in the Basel?

How many risks in the Basel? 1. Credit Risk 2.  Market Risk 3. Operational Risk 4. Supervisory Risk 5. Fiduciary Risk It is the risk of loss from default by the counter party, typically as a consequence of its insolvency Possibilities of violation of agreement by the counter party in […]

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