Advance Payments Against Imports

This is sample letter of Undertaking Advance Payments Against Imports. This letter is issued by company to bank for clearance of Payment schedule of Imported things. All terms and conditions are mention in letter like shipping payment and remaining or balance payment schedule. Sample format of letter is given below, you can use it according to your requirements.

Letter of Undertaking Against Import Advance Payment

Cheif Manager
National Bank Limited,
Main Branch,
Lahore

Subject: Advance Payment Undertaking/ FTT Against Import of Pressure Safety Values

Dear Sir,

You are requested to please issue FTT amounting to Euro 5,000(Five thousand only) in favor of Power gen USA components against advance payment for import of pressure safety valves more explicitly requested in our letter reference no Bcct/ACC-893/12-13, November 04, 2014.

We hereby confirm that we are a manufacturing/ Industrial concern and will only be used in our manufacturing process.

We further undertake that we will surrender the shipping documents against this advance payment within four months of the date of advance payment and in case of non submission of shipping document, we will be liable to pay a penalty @1% per month or part thereof on the amount of advance payment from the date of remittance till date of submission of shipping documents or we will repatriate the amount of advance payment back into Pakistan.

Thanking you,

Yours Faithfully,

For Falcon’s (Pvt)Ltd

Authorized Signatory:__________

Stamp:_____________

 

Letter of Undertaking Against Import Advance Payment
Letter of Undertaking Against Import Advance Payment

 

 

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