Definition of Form E in Pakistan and its usage
Form – E declares the Foreign Exchange arrival against the Exported Shipment
In Pakistan Form E or E Form stands for Export Form which is issued by the Bank at the time of export to client. It’s a declaration that this export is being processed against the foreign exchange either it has arrived in the exporting country or is contracted to arrive after shipment maturity. Form -E is issued to the shipper from his dealing bank and Bank also provide him the following supporting documents to obtain bill of lading from the shipping carriers; Normally the payment is released to the shipper or exporter when the Bill of Lading or Airway bill is issued for the goods being exported.
- NOC
- C&F Certificate
- B/L Issuing Authority Letter
NOC:
No Objection Certificate (NOC) is issued when the shipment is being export against 100% payment in advance and bank issue this NOC to shipper to consign the shipment directly to consignee.
C&F Certificate:
This certificate is issued when the shipment is processed on the basis of C&F incoterm.
B/L Issuing Authority Letter:
This certificate is issued when the shipment has to move By Sea. In case of By Air export shipment; this certificate is not issued.
