IMPORT & EXPORT PROCEDURE

Account Opening procedure

Duration: 24hrs time

Procedure:

In-person method
Step-1
Form available at the ABL branches, form obtained free of cost from bank.
Step-2
Account Opening Form duly completed in all respects.
Step-3
Two specimen signature cards duly completed with business’s stamp. All documents to be signed with business’s
stamp.
Step-4
Computerized National Identity Cards or Passports (with photograph) of all individuals/partners directors shall be
examined in original and certified copies retained for the file.
Step-5
True copies of the under noted documents certified by the Chairman, Board of Director / Company Secretary:-
i. Memorandum and Article of Association of the company
ii. Board of resolution to open current A/c with ABL
iii. Certificate of Incorporation
iv. Certificate of commencement of business
Step-6
Attached all the required documents with the complete form. Completed forms submitted to account opening
department.
Step-7
Bank authority verifies all the documents & allots the account number to the individual/partnership
firm/company.After 3days cheques book issued to the business .ATM card available after 1 week of the account
opening day.
Step -8
Operational instructions should be obtained as to how and by whom the account will be operated.

Note: All documents attested by the bank but business individual must bring original documents

Office address in Islamabad:

Focal person:
Mr. Amir Jamil
Designation: Manager 92-51-2263326
Allied Bank Ltd I & T Centre,
G-8/1, Islamabad
+92-51-2855866
[email protected]
 IMPORT & EXPORT PROCEDURE

Requirements of Account Opening in ABL Bank

s.no Documents/information Business AOP Company Company

Required Individual (Pvt) (Public)
1. Account opening form Y Y Y Y
2. CNIC copies of Individual Y Y Y Y
partners/Directors
3. Utility bill of the business Y Y Y Y
premises
(Elercity,Gas,Telephone)
4. NTN certificate N N Y Y
(company,Directors,AOP)
5. Copies of Registration Certificate N Y Y Y
( SECP, Registrar of Firm)
6. Attested copy of N N Y Y
Memorandum/Articles/Trust
Deed etc
7. Declaration of Sole Y N N N
proprietorship
8. Attested copy of Board N N Y Y
Resolution
9. Attested copy of certificate of N N N Y
commencement of Business
10. List of N N Y Y
Directors/officers/Trustees/office
Bearers
11. Request on company letter head N N Y Y
to open account in the bank.
12. Attested copy of latest Form-29 N N Y Y
13. Attested copy of partnership N Y N N
Deed
14. Attested copy of certificate of N Y Y Y
Incorporation/Registration
15. Attested copy of Membership N N Y Y
certificate from trade body if
business register
16. Authority letter. In original, in Y Y Y Y
favor of the person authorized to
operate the account of the Firm.
17. Partnership letter (Form#177) N Y N N
duly signed by each Partner
under company’s stamp
18. Attested copy of Zakat Y Y Y Y
declaration/Affidavit
19. Email addresses, Mobile num Y Y Y Y
 IMPORT & EXPORT PROCEDURE

Requirements for Membership of ICCI

Information required Propriet Partnership / Private Public

orship AOP Limited / Limited /
Limited Multinati
Company onal
Compan
y
A Copy of CNIC of proprietor/partners/Directors Y Y Y Y

A copy of National Tax Number (NTN) certificate Y Y Y Y

on the name of business/firm/company
Latest Income Tax Return where applicable, on Y Y Y Y
the name of business/Firm/company

A Copy of sales Tax Registration and latest Sales Y Y Y Y

Tax Return, if applicable
A copy of Partnership Deed duly registered with
Registrar of Firms, Islamabad.
A written consent of all the Partners on letter N Y N N
head nominating one of the Partners as
representative in ICCI.
Copies of Memorandum and Articles of N N Y Y
Association, duly approved by Securities &
Exchange Commission of Pakistan (SECP) along
with copy of certificate of incorporation by SECP

Board Resolution nominating one of the N N Y Y

Directors as authorized representative in ICCI.
Three photographs of the proprietor (one for Y Y Y Y
pasting n the application form &two for IDC)
Lease deed /allotment letter of the building Y Y Y Y
/office as a proof of business on the indicated
address
Original bank certificate on the name of business Y Y Y Y
Fees Associate Member (AM) Corporate Member (CM)
Rs. 5,750/- Rs. 11,250/-
Attestation Attestation not required
Membership form contain the Colum which is named as
proposed Colum on which the fresh person gets the
signature of already existing members (2 members
signature required)

Focal person Mr.Abdul Ghaffar

Assistant Secretary
Ms.Noor
Membership
Coordinator
 IMPORT & EXPORT PROCEDURE

Import & Export Procedure

1. Seller and Buyer conclude a sales contract, with method of payment usually by letter of credit
(Documentary credit).
2. Buyer applies to his issuing bank, usually in Buyer's country, for letter of credit in favor of Seller
(Beneficiary).
3. Issuing bank requests another bank, usually a correspondent bank in Seller's country, to advice,
and usually to confirm, the credit.
4. Advising bank, usually in Seller's country, forwards letter of credit to Seller informing about the
Terms and conditions of credit.
5. If credit terms and conditions conform to sales contract, Seller
prepares goods and documentation, and arranges delivery of goods to carrier.
6. Seller presents documents evidencing the shipment and draft (bill of exchange) to paying, accep
ting or negotiating bank named in the credit (the advising bank usually), or any bank willing to
negotiate under the terms of credit.
7. Bank examines the documents and draft for compliance with credit
terms. If complied with, bank will pay, accept or negotiate
8. Bank, if other than the issuing bank, sends the documents and draft to the issuing bank.
9. Bank examines the documents and draft for compliance with credit
terms. If complied with, Seller's draft is honored.
10. Documents release to Buyer after payment or on other terms agreed between the bank and Buy
er.
11. Buyer surrenders bill of lading to carrier (in case of ocean freight) in exchange for the goods or
the delivery order.
 IMPORT & EXPORT PROCEDURE

Check List of Imports Documents:- Check List of Export Documents

First Phase (Ordering): First Phase (Ordering):

• Purchase Order •Confirmed Order
•Order Acknowledgment • Production and Packing
•Performa Invoice • Inspection Certificate (If Any)
•Letter Of Credit • Shipment Advice or Plan
• Shipment Advice or Plan
Second Phase (Documentation):
Second Phase (Documentation): • Commercial Invoices
• Commercial Invoices •Packing List
•Packing List • Bill of Lading/Airway Bill
• Bill of Lading/Airway Bill •Weight Note
•Weight Note • Health/Halal Certificate
•Health Certificate • Certificate of Analysis
• Halal Certificate • Fumigation/Sanitary Certificate
Import Export Management Import Export Management
• Certificate of Analysis
• Sanitary Certificate Third Phase (Clearance):
• Fumigation Certificate •E-Form
• Insurance Cover Note or Marine Insurance •Banker’s certificate/NOC
• Bill of Entry (Good Declaration)
Third Phase (Clearance): • Undertaking Narcotics
• Bill of Entry (Good Declaration) • Shipping Bill
• Duty Receipts •Chamber Certificates (if Any)
•Excise Duty Receipts •GSP Form
• Transportation (If Any) • Shipper Instruction

Fourth Phase (Remittance): Fourth Phase (Remittance):

• Submission of Documents • Submission of Documents
• Remittance Telex • Remittance Certificate
•Payment Done •Payment Done
 IMPORT & EXPORT PROCEDURE

Logistics Support

Factor in Selection of Transportation Modes

 IMPORT & EXPORT PROCEDURE

Export Import Financing

Post-Shipment Finance:
 IMPORT & EXPORT PROCEDURE

Post shipment finance is required to meet working capital requirements after the actual shipment of go
ods. It bridges the financial gap between the date
of shipment and actual receipt of payment from overseas buyer thereof. Whereas the finance provided
after shipment of goods is called “Post-Shipment Finance.

Factors in Obtaining Post-Shipment Finance

•To pay to Agents/Forwarders/Distributors
•To Pay for publicity and advertising in overseas markets
•To Pay for Port Authorities, customs, shipping and agent charges
•To Pay towards Export Duty or tax, if any

Pre-Shipment Finance Period

• Credit Period of Pre-Shipment Financing is “180 days”

Custom Clearance Procedure

 IMPORT & EXPORT PROCEDURE

Flow chart