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Advance Import Remittance

• The buyer & seller agrees to conduct business on advance payment terms.

• The buyer applies to their bank (Bandhan Bank) to make an advance payment against impending imports.

• The buyer makes advance payment to the seller through the Bank.

• After receipt of payment, the seller ships goods and forwards the documents directly to the buyer.

• On receipt of goods, the buyer will submit bill of entry details to the Bank. 

Direct Import Remittance

• The seller ships the goods & sends the underlying documents to the buyer.

• The buyer takes the delivery of the goods in exchange of the documents.

• The buyer applies for direct import remittance to Bandhan Bank.

• Basis buyer’s request, Bandhan Bank makes the remittance to the seller’s bank.

• The seller’s account gets credited upon receipt of the payment.

T&C apply