3 Correspondent Banker to Intercontinental ZenithUnited Bank for Africa Guaranty TrustAccess OceanicDiamond IBTC CharteredEquitorial Trust First City MonumentPlatinum SterlingFidelity First Bank
4 The Destination Inspection Process LC ADVISE7RELEASE OF GOODSFBN BANK (UK) LTDEXPORTERNPA/FAAN TERMINAL815DOCS9SHIPMENTLC ISSUANCE61014EXAMINATION (GREEN, YELLOW OR RED). EXTENT DEPENDS ON RARDOCSSUBMISSION TO BANKAPPROVAL/ SUBMISSIONFORWARD FORM MIMPORTER1NIGERIANBANK2SCANNING COMPANY5NIGERIA CUSTOM SERVICE11a1213ENDORSE DOCSFORWARD DOCSGENERATE RAR & SEND TO NCSREQUEST FOR CLEARANCE11b3REJECT11bREQUEST FOR CLEARANCE4ACCEPT /NOTIFY
5 Issues Manufacturer’s Certificate / Lab Test Certificate 14 days CCVO Direct documents / Document ControlForm MOld transactions
6 Manufacturer’s Certificate & Lab Cert 3 original(s) of Manufacturer/Supplier's Certificate with standards adopted of goods3 original Manufacturers Certificate of Production confirming the standard used for productionOne original Manufacturer's Certificate of Production (stating the manufacturing standards adopted e.g. ISO,IES etc.) and 2 copiesManufacturer's Certificate stating the standards adopted thereon i.e. British Standard –PD ISO, NIS, DIN ETC.Laboratory Test Certificates (for chemicals, foods beverages pharmaceuticals electrical appliances and other regulated products
7 14 Days….examplesCertificate is required from the beneficiary confirming that…………….documents have been sent by their bankers directly by courier to x bank…….documents to be sent directly by courier to x bank within 14 days of shipment and a beneficiary certificate to that effect is required……...to be dispatched by courier to x bank within fourteen days of shipment. A copy of the courier way bill for the dispatch of the documents is required.One original beneficiary certificate, with original courierservice airway bill attached certifying that documents inField 47a (2) have been forwarded directly to X bank within14 days after shipment dateForm M no …… and the above LC number are to be quoted on all documents
8 Good News ??“We wish to clarify that the Manufacturer Certificate was deleted because the product being imported is not a manufactured product”“Please note that items of import on these LCEES are non regulated items and do not require Laboratory Test Certificate”3/3 Original Bill of Lading to be presented
9 CCVO ….examples3 original (s) and 1 copy(s) of Combined Certificate of Value and Origin (C.C.V.O.) as required for import into the Federal Republic of Nigeria1original Combined Certificate of Value and Origin (CCVO) and 3 copies . The Combined Certificate of Value and Origin (CCVO) must state the adequate description of goods, port of destination, shipment identification, date of shipment, country of origin, country of supply.3 original and 3 copies CCVO (form C16)1 original Combined Certificate of Value and Origin (CCVO) and 3 Copies.
10 Direct Docs / Doc Control / Form M LC ADVISE7RELEASE OF GOODSFBN BANK (UK) LTDEXPORTERNPA/FAAN TERMINAL815DOCS9SHIPMENTLC ISSUANCE61014EXAMINATION (GREEN, YELLOW OR RED). EXTENT DEPENDS ON RARDOCSSUBMISSION TO BANKAPPROVAL/ SUBMISSIONFORWARD FORM MIMPORTER1NIGERIANBANK2SCANNING COMPANY5NIGERIA CUSTOM SERVICE11a1213ENDORSE DOCSFORWARD DOCSGENERATE RAR & SEND TO NCSREQUEST FOR CLEARANCE11b3REJECT11bREQUEST FOR CLEARANCE4ACCEPT /NOTIFY
11 Direct docs..a suggestion These documents may not be released to the Applicant unless you hold their Irrevocable authority to pay documents presented under your LC ref XXXXXXXXXXXXXX despite any discrepancies.Please also give your specific approval by authenticated SWIFT to the advising / confirming / negotiating/ paying bank to effect payment despite any discrepancies.”
12 Evolution of Nigerian LCs 100% cash coveredNon operative unconfirmedClean LineUsance Terms e.g. 90 days bladingRefinancing / discountingUCP 600 July 2007 ?