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Import |
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Import refers to all transaction related to purchase
of commodities, machineries, materials, etc from
abroad and allowed to enter Ethiopian territory.
Banks in import transactions deal only in documents.
"Documents" in import transactions refer to the
following set (item no. « a » is optional but « b »
is compulsory.)
a. "Financial documents" means bills of exchange or
promissory notes used for obtaining the payment of
money.
b. "Commercial Documents" means commercial invoices,
transportation documents [like Bill of Lading (B/L),
Air Waybill (AWB), Truck Waybill (TWB), Rail Waybill
(RWB), Parcel Post Receipt (PPR)], Packing List,
Certificate of Origin, documents of title or other
similar documents, or any other documents
whatsoever, not being financial document.
The three methods of payment allowed by the
regulation for import activities are listed here
below – based on risk level (starting from less
risky) to Ethiopian importers.
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