Export L/G for Internal Contracts

Necessary documents for getting Central Bank of Islamic republic of Iran authorization:
 1- Write a request for LG  in company's letter head with signature and company's authorized stamp (signature verifying is necessary).
2- Providing copies of company's article of association and the latest changes of board members, authorized signatures and company's capital in country's official Journal
3- Providing copy of tender documents (about tender guarantees) and contract or advising copy of referring job-sections related to contract specifications and form of payments(about performance bond and advance payment guarantees )in two copies.
4- Credit committee confirmation of bank's Management Credit and Investment Affairs after obtaining central bank's authorization.
5- Providing letter of undertaking by applicant stating that if payment amount of L/G to beneficiary comes in to question exporter will be obliged to provide L/G amount in FX or IR.R equivalent based on FX selling rate of demand day.
6- Amount of securities will be specified according to provisions of L/G issuance by –law and endorsement by banks and according to company's abilities and banks recognition.
7- Annually commissions rate for issuing L/G, based on mentioned tariff, for tender guarantees will be 1/75 percent and in other cases 2/25 percent.
8-In case of issuing L/G by correspondence, correspondent's commissions (IR.R equivalent) are on applicant’s account.
9-For Advance payment guarantee and when exporter and beneficiary of guarantee both are Iranian and relative L/C has been issued by other Iranian bank, issuance of counter guarantee is obligatory, but issuance of direct performance bond guarantee will be authorized after informing and coordinating with issuing bank and accepting further actions responsibility by employer.
    For more information please contact with FX L/G section in FX Operations Departments at head quarters.
     In case of entrusting total amount of L/G in form of cash, getting authorization of Central Bank or Management Organization and/or Export Development Center is not necessary.
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