Documentary Credits

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Documentary Collection:
A documentary collection is the transaction in which the collecting bank (importer) handles the task of collecting the value of the documentary collection based on the orders issued by the corresponding bank (exporter) according to the directions of the exporter bank so as to deliver the documents to the importer. The documentary collection shall be subjected to the applicable banking regulations and provisions.

Advantages:
  1. This instrument offers you the opportunity to manage your own project with total confidence through creating a stable trade and business environment
  2. Receiving your dues from buyers and paying to suppliers in timely manner.
  3. Jumhouria Bank shall provide a team of experts in business and commercial transactions to pave the path for you toward conducting your business transactions with suppliers and buyers smoothly.

Required Documents:
(a)- For Importing:
  • ommercial purchase invoice approved by the competent authorities detailing the specifications, quantities, types, numbers and weights of the goods for export.
  • Certificate of Origin.
  • Original Bill of Lading (by land, by air, by sea).
  • Other importing documents.

(b) – For Exporting:
  • Commercial sale invoice approved by one of the Chambers of Commerce at the country, issued in the name of the outside importer, that is the drawee exporter and which should include the name of the drawee and the foreign importer.
  • The bill of lading issued by an accredited transport company operational in Libya with the following specifications:
    1. The specification of the goods listed in the bill of lading should match the specification of the goods listed on the invoice.
    2. Certificate of Origin approved and accredited by one of the Chambers of Commerce in the county.
    3. Packing and weight lists if available.
    4. Other required documents and certificates by the drawee abroad.
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