Regulatory Alerts2013-09-19
Added · Updated
FEPD Circular Letter No. 28: Insertion of Authorised Dealer Bank's 11-digit VAT Registration Number (BIN) on Letter of Credit, Bill of Lading and other Shipping Documents
Authorized Dealer Banks must include their 11-digit VAT Registration Number (BIN) on Letters of Credit, Bills of Lading, and other shipping documents where the bank is named as the importer. This requirement applies regardless of the specific ED branch issuing the LC, as banks use a central BIN. Banks that have not yet obtained their new 11-digit BIN certificate from the local VAT office must acquire it immediately.
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