TT/Swift Transfer and Trade Related Service

We facilitate all trade related fund transfer mechanism. Mainly

• Advance payment: in case of goods not received
• Full/partial payment: in case of goods and documents are received
• Service fee: in case of service provided by foreign firm
• Freight charge: transportation charge
• Others ( as prescribed by NRB forex regulation from time to time)

Currently, NRB allows maximum INR 5 core and USD or equivalent USD 30000/- (Business  credit information (BCI) is required for more than USD 25000/-). In case of service payment,  INR 100K including tax and upto INR 3000K (approval required for more than INR 100K)

An individual cannot transfer the fund through RTGS/SWIFT /TT neither for service nor for business purpose but the amount can be transmitted by the firm (registered firm in Nepal) for the service payment purpose.

In advance payment we required the following documents (and as prescribed by NRB from time to time )            

• Performa invoice → must mention importer name, exporter name, date, invoice no., quantity, rate per unit total amount, harmonic code, port of entry (custom point), country of origin, bank details for sending payment.
• Client application 
• Self-declaration mentioning fund not sent through other bank
• Bi Bi Ni 3 ka

In case of goods imported and documents received by importer we can send the partial or full payment on the basis of following document.    

• Bhansar Pragyapan patra (PP) → must tally  customs reference no. and date,   exporter name  in (field→f→ 2), importer name (f→8), invoice no., invoice date (f→ 9), vehicle no (f→18 or 21) quantity(f→35), total amount(f 22 or f 31), harmonic code (f33),  port of entry ( custom office/point f→29), country of origin (f→16), goods description (f→31) freight charge or transport cost (f→44) tax detail (f→47 must match with custom receipt), custom officer name and signature (f→54), supplier claim required if payment is sending after 90 days from the goods received (Bhansar PP sign date)
• Custom cash receipts (must match with Bhansar PP)
• Commercial/Tax/Export invoice (must mention importer name, exporter name, date, invoice no., quantity, rate per unit total amount, harmonic code, port of entry ( custom point), country of origin, bank details for sending payment)
• Transport bill (bill of transport→bill-T): must mention invoice no, invoice amount and vehicle no.
• Client application 
• Letter of approval from concerned body (as  required by NRB for importing certain items)

No, we cannot transmit the amount more than the mentioned amount in Bhansar Pragyapan patra but lesser can be transferred.

Yes, we can remit freight charge through TT and it can also paid in cash up to INR 75K.

Normally we do not prefer to remit IGST but it depends upon the nature of goods and we consider which goods are required to pay IGST.

It will take minimum 1 hour to maximum 3 days (depends upon the bank we are sending fund)

Yes. Upon receipt of complete and compliant documents, we process the application the same day.

No, we cannot remit the business transaction amount in the name of business proprietor. It should always be remitted in the name of the firm.

Yes. We can remit money in advance before receiving the goods.

• After receiving goods from advance payment, the applicant should submit the document Pragyapan patra, custom receipts, commercial invoice, transport bill and custom cash receipt along with BI.BI.NI. 3 ka issued by bank. 
• Failure of submission of these documents may restricts other payments to be done by the applicant.

In case of advance payment, customer should submit the Performa invoice, advance payment receipt (swift message copy), transport bill and BI.Bi.Ni. 3 ka or Ga which are duly signed and stamped by Bank staff in order to release the imported goods from custom point.

Normally, the payment should be done within 90 days, However, the amount can be transmitted after 90 days but confirmation letter from the beneficiary is required.

Yes. Some goods are fully restricted. Some have quantitative restrictions and some requires pre-approval. These are prescribed by NRB- Foreign Exchange Unified Circular and Import-Export Act. Our Trade Team shall guide you on this (if required)

No. Only one mode of mechanism either LC or full payment through swift (TT) can be used.