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Letter of Credit

Submitting a copy of a valid license to the bank at the time of opening L/Cs.
Companies are required to submit a copy of a valid license along with articles of association.
Letter of Credit opening form should be signed by an authorized person, a legal proxy or an official representative introduced by the customer.
Customers are responsible to pay commissions and stamp duties (Sokok)
When correspondent bank debited Bank-e-Millie Afghan account for payment of the L/C BMA would collect commission according to fee schedule. If, during the period of credit up to its clearance the rate of commission and interest is changed, the customer is required to accept such changes.
If the goods related to L/C has reached to any custom house of the country and the customers are not clearing their accounts nor transferring their goods to the warehouse of the bank with in two months, the bank would pay custom duties on the basis of separate protocol and transfer the goods to warehouse, otherwise article 38 of the banking law is applicable on this goods.
Bank-e- Millie Afghan is not responsible for wastage, loss, decrease, difference in goods & etc.
The customers are responsible to incur the expenses pertinent to transportation & custom duties.
The customers will be allowed to transfer their goods from the custom house after clearance of their accounts with the bank takes place.
When the period of L/C is over and the seller fails to prepare and transfer the goods or due to some reasons the goods became late on the way or transferred to any other port, the Bank will not take any responsibility.
Surplus or any other credit of the customer in L/C account is not entitled to interest.