RESPONSIBILITIES OF THE SUPPLIER

On consignment of goods for shipment, the overseas supplier shall:

1. Make available two sets of each of the original Combined Certificate of Value and Origin (CCVO), Transport document (Bill of Lading, Airway Bill, Road Waybill, etc.) and Packing list to his/ her bank.
2. On receipt of the documents listed in point 1 above, the supplier’s bank shall forward them through the relevant correspondent bank to the Nigerian Authorized Dealer Bank for Letters of Credit transactions.
3. For transactions requiring the issuance of Certificate of Capital Importation and/or those involving supplier’s credit, documents shall be forwarded by the supplier bank to the Nigerian bank.
4. In the case of Bills for Collection transactions, two sets of original documents should be forwarded to the Nigerian Authorized Dealer Bank through the supplier’s bank or the offshore correspondent bank of the processing bank.
5. For transactions “Not valid for foreign exchange” two sets of the original documents should be forwarded by the supplier directly to the bank that validates the e-Form “M”.