Bank Contract Registration Certificate

MoniqueP · Post by **MoniqueP** » Wed Jun 29, 2005 1:00 am

Hello there,
I have a wired question has anyone of you heard of a mode of payment "Cash against documents (CAD) via Bank Contract Registration Certificate"
This is a proposal made by a Buyer in Pakisan to a french supplier.
I have looked into the site search without success.
Any help would be appreciated
Thanks to all of you.
Monique Philippe

NigelHolt · Post by **NigelHolt** » Wed Jun 29, 2005 1:00 am

Never heard of it.

VinodR · Post by **VinodR** » Wed Jun 29, 2005 1:00 am

Philippe,
In Pakistan all imports under firm contracts are required to be registered with banks. The bank registers the contract & usually issues a certificate to the effect detailing the particulars of the contract. The importer then has to produce this certificate to the custom authorities for clearing the goods.
regards Terrence

MoniqueP · Post by **MoniqueP** » Wed Jun 29, 2005 1:00 am

Hi Terence
Thank you very much for your answer
Regards
Monique

larryBacon · Post by **larryBacon** » Thu Jun 30, 2005 1:00 am

Monique,

as far as I know, only imports below a certain (low) value are permitted on a CAD basis in Pakistan. Others must be by LC. The previous comment about registration apply to both LC and CAD.

Laurence

VinodR · Post by **VinodR** » Thu Jun 30, 2005 1:00 am

Laurence
It’s the other way around; earlier contracts below USD 10k were not required to be registered, there was also no cap on the amount of imports under collections. I am informed now that the requirement for registration of contracts irrespective of the amount has been withdrawn by the central bank. The custom authorities,however still insist on the registration.
regards,
Terrence