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31 Jul 2010

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Import transactions
OPENING COMMISSION & EXTENSION COMMISSION
a)	Commission is charged at the time L/C is opened/extension is advised OR amount is increased.		0.5% for first 6 months (min Rs 900) 0.25% for each additional quarterly period.
b)	Amendment commission		Rs400 for all variations in addition to transmission cost.
c)	Payment commission		0.25% (min Rs400) to be collected at the time of payment.
d)	Local Fee		Rs150 per negotiation
	SWIFT charges		Rs175 per negotiation
e)	Acceptance commission (under Usance L/C)		1/8 % per month (min Rs 600)
f)	Shipping Guarantee (on the original issue of a bank guarantee covering missing Bill of Lading)		Rs 700 levied on issue and after a period of one month, Rs300 monthly thereafter until receipt of original Bill of Lading.
g)	Transmission costs	Opening of L/C		Amendment
	By SWIFT	Rs400		Rs175
	By Telex	Rs400		Rs175
h)	Letter of Credit cancellation		As claimed by foreign banks + SWIFT Charges
i)	Administrative fee		Rs 150 for each period of 30 days or part thereof during which goods are warehoused under the responsibility of the bank, apart from other related charges, insurance, warehousing fees etc.
j)	Import Bill for Collection		0.5% (minimum Rs500)
	- Local fee		Rs150
	- Handling fee		Rs500 fortnightly on due bill
	- SWIFT charges		Rs175
	- Local bills		0.5% (minimum Rs 500)
	- Negotiation endorsed bill		0.5% (minimum Rs 500)
	- Conversion of D/P Tenor to D/A Tenor or extension of payment		0.5% (minimum Rs 500)
k)	Issue of Drafts		Same day- Rs 200 + overseas bank charges Next day- Rs 100 + overseas bank charges
l)	Clean Payment Orders (Open A/c)
	- Commission		Rs 125 + any Overseas bank charges where applicable
	- SWIFT charge		Rs 175
m)	Stop Payment on Drafts		As claimed by Overseas Banks + SWIFT charges

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