Import Department

The main functions of Import Department are as follows:

Import Department is providing the services of issuing import letter of credits, releasing import bills, making payments for import bills under L/C and DP/DA, shipping guarantees and Import Trade Financing.

Services for Importer

  • Opening Import Letter of Credit to Foreign Bank
  • Import Bill Releasing and Making Payment
  • Payment for DP/DA
  • Issuance of Shipping Guarantee
  • Trade Financing

Person who can receive Import Financing

The Importers who opened foreign currency account at Myanma Foreign Trade Bank

Method of Import Financing

  • With collateral by appropriate balance of Foreign Currency Account (or) MMK Account maintain with Myanma Foreign Trade Bank
  • Reducing Margin
  • Without margin and making payment on maturity date (From Importer's A/C)
  • Without margin, making payment by Myanma Foreign Trade Bank and Payable by Importer later.

Require Documents for Import Financing

  • Application letter from Importer
  • Trade Financing Proposal
  • Trade Financing Agreement
  • Meeting minute of B.O.D
  • Tax received for three years
  • Audited Reports for Financial Status.

Interest rate

  • Concessionary interest rate for importers in accordance with financing period.

Payment by DP/DA

  • DP (Documents Against Payment) Bill releasing and payment making on approval basis.
  • DA (Documents Against Acceptance) Bill releasing and making payment on maturity date.

Required Documents for the Opening of Import Letter of Credit

  • Required Documents for the Opening of Import Letter of Credit (Government)
  1. Application Form 
  2.  Import License (Original and Copy) 
  3. Copy of Proforma Invoice (or) Firm Order (or) Contract
  4.  Foreign Exchange Permit from Budget Department
  • Required Documents for the Opening of Import Letter of Credit (Private)
  1. Application Form
  2.  Import License (Original and Copy)
  3. Copy of Proforma Invoice
  4.  Debit Authorization Letter
     
  • Bill Releasing
  1. Import License
  2.  Application
  3. Debit Authority for Bill Handling Commission and Bank Charges
  4. Letter of Indemnity
  5. Form (Tha-Ka)

 

Download PDF Files:

Letter of Indemnity Form .pdf

FORM (THA KA).pdf

LC Application Form.pdf

Myanma Foreign Trade Bank

Address : 80-86, Mahabandoola Garden Street, Kyauktada Township, Yangon.
E-mail : [email protected], [email protected]
Phone : 01-8388416
Fax : 01-8385035

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