1. Import Letter of Credit (L/C)
| No | Description | From Wegagen Bank | From Retention & other FCY A/C | From Diaspora A/C | Rule for Application of period & Value |
|---|---|---|---|---|---|
| 1 | Import Letter of Credit (L/C) | ||||
| 1.1 | Opening of Letter of Credit (L/C) | ||||
| 1.1.1 | Opening Commission | 4.5% USD 250 Minimum | 2.5% Minimum USD 250 | 2.5% Minimum USD 250 | Applicable once only up on issuance/opening of LC. It does not include extension |
| 1.1.2 | Service Charge Foreign | 5.0% per quarter & minimum of USD 300 | 3.5% Minimum USD 250 | 3.5% Minimum USD 250 | Applicable every quarter(90 days)On LC outstanding Amount |
| 1.1.3 | Confirmation Commission (if any) | 3.5% per quarter & minimum of USD 300 | Confirmation Commission (if any) | 2% per quarter & minimum of USD 300 | Applicable every quarter(90 days)on LC outstanding Amount |
| 1.1.4 | Swift | USD 200 | USD 200 | USD 200 | |
| 1.1.5 | Exchange Payable | 2.5% for LCY A/C | Free | Free | |
| 1.1.6 | Additional Service Charge (If the LC is opened with Margin) | For 30% Margin - 4% per quarter For 50% Margin- 3.5% per quarter | Applicable every quarter(90 days) on LC outstanding unpaid Margin | ||
| 1.2 | Extension of Letter of Credit (L/C) | ||||
| 1.2.1 | Extension commission | ||||
| 1.2.1.1 | Extension Commission beyond the period(involving additional period) before expiry date including Service Chargen | 9% per quarter part thereof minimum of USD 150 | 5.5% per quarter part thereof minimum of USD 150 | 6.25% per quarter part thereof minimum of USD 150 | 90 days in each quarter |
| 1.2.1.2 | Extension Commission beyond the period(involving additional period) after expiry dateincluding Service Charge | 9.5% per quarter part thereof minimum of USD 200 | 6% per quarter part thereof minimum of USD 200 | 7.25% per quarter part thereof minimum of USD 200 | Applicable for extension of expiry date of LC for additional period beyond 90 days in each quarter |
| 1.2.1.3 | Extension within the period of LC including Service Charge | 8.5% min USD 300 | 7% min USD 300 | 7% min USD 300 | Applicable for either extension of latest shipment dateand/or expiry date of LC within the period for which chargesare collected (same period). |
| 1.2.2 | Confirmation Commission | 3.5% per quarter\& minimum of USD 300\ | 2% per quarter\ & minimum of 200\ | 2% per quarter & minimum of USD 300 | Applicable every quarter(90 days)on LC outstanding Amount |
| 1.2.3 | SWIFT | USD 50 | USD 25 | USD 25 | Applicable for any outgoing SWIFT message except bank to bank communication |
| 1.2.4 | Amendment commission | USD 50 | USD 25 | USD 25 | Applicable to all amendments including extension |
| 1.3 | Increased LC | ||||
| 1.3.1 | Exchange commission to NBE | 2.5% for increased amount | free | free | |
| 1.3.2 | Service Charge Foreign | 10% per quarter & minimum of USD 450 | 6% Minimum USD 250 | 6% Minimum USD 250 | Applicable every quarter(90 days) on increased LC Amount |
| 1.3.3 | Swift | USD 50 | USD 25 | USD 25 | |
| 1.3.4 | Confirmation Commission | 3.5% per quarter & minimum of USD 300 | 2% per quarter & minimum of 200 | 2% per quarter & minimum of 200 | Applicable every quarter(90 days)On LC Increased Amount |
| 1.4 | Decreased LC | ||||
| 1.4.1 | SWIFT | USD 50 | USD 25 | USD 25 | Applicable for any outgoing SWIFT message except bank to bank communication |
| 1.4.2 | Amendment commission | USD 50 | USD 25 | USD 25 | Applicable to all amendments including extension |
| 1.5 | LC Settlement | ||||
| 1.5.1 | LC settled with Opened Value | ||||
| 1.5.1.1 | Swift for settlement | USD 100 | USD 50 | USD 50 | Applicable for outgoing LC settlement swift Messages 799 & 999 |
| 1.5.2 | LC settled with Excess Drawing up on receipt of Shipping documents | ||||
| 1.5.2.1 | Exchange commission to NBE | 2.5% for excess amount for LCY A/C | Free | Free | |
| 1.5.2.2 | Service Charge Foreign | 10% per quarter & minimum of USD 600 | 5% Minimum USD 250 | 5% Minimum USD 250 | Applicable only on excess overdrawn amount. However, if excess amount is less than USD 600 or equivalent in other currency, minimum charge is waived |
| 1.5.2.3 | Swift for settlement | USD 100 | USD 50 | USD 50 | Applicable for outgoing LC settlement swift Messages 799 & 999 |
| 1.6 | Other L/C Charges | ||||
| 1.6.1 | Partial Shipment Charge | For the 1st partial shipment - Free | for the 1st partial shipment - Free | for the 1st partial shipment - Free | This partial shipment charge is waived only for the first partial shipment and applicable for all subsequent partial shipments |
| For 2nd partial Shipment - 1% of commercial invoice value or minimum of USD 150 | For 2nd partial Shipment - 1% of commercial invoice value or minimum of USD 150 | For 2nd partial Shipment - 1% of commercial invoice value or minimum of USD 150 | |||
| For 3rd & 4th partial shipment - 2.5% of commercial invoice value or minimum of USD 200 | For 3rd & 4th partial shipment - 2.5% of commercial invoice value or minimum of USD 200 | For 3rd & 4th partial shipment - 2.5% of commercial invoice value or minimum of USD 200 | |||
| For 5th & Beyond - 4% of commercial invoice value or minimum of USD 250 | For 5th & Beyond - 4% of commercial invoice value or minimum of USD 250 | For 5th & Beyond - 4% of commercial invoice value or minimum of USD 250 | |||
| 1.6.2 | Shipment after expiry of LC & prior to LC issuance | Within 10 days - 2.5% | Within 10 days - 2.5% | Within 10 days - 2.5% | This charge is applicable for shipment after expiry of LC or prior to issuance of LC. However, prior approval from NBE or the CEO is required. |
| For > 10 days - 6.5% min of USD 500 | For > 10 days - 5.5% min of USD 500 | For > 10 days - 6.5% min of USD 500 | |||
| 1.6.3 | Handling Charges of documents arrived after expiry date of LC | Within 10 days - Free | Within 10 days - Free | Within 10 days - Free | This charge is applicable on commercial invoice value for any documents received at our counter 11 days after expiry of LC. However,it applies for LC shipped within LC validity. |
| From 11 - 30 days - 3.5% min USD 150 | From 11 - 30 days - 3% min USD 150 | From 11 - 30 days - 3.5% min USD 150 | |||
| For > 30 days - 4.5% min USD 250 | For > 30 days - 4% min USD 250 | For > 30 days - 4.5% min USD 250 | |||
| 1.6.4 | Custody Charge | USD 125 per month | USD 100 per month | USD 100 per month | This charge is applied for documents held at our custody beyond 30 days |
| 1.6.5 | Discrepancy Charge | USD 100 or equivalent in other currency per document presentation on beneficiary account | USD 100 or equivalent in other currency per document presentation on beneficiary account | USD 100 or equivalent in other currency per document presentation on beneficiary account | This charge is applied per covering letter of the presenting bank |
2. Cash Against Document (CAD)
| No | Description | From Wegagen Bank | From Retention & other FCY A/C | From Diaspora A/C | Rule for Application of period & Value |
|---|---|---|---|---|---|
| 2 | Cash Against Document (CAD) | ||||
| 2.1 | Upon purchase order approval | ||||
| 2.1.1 | Purchase order approval commission | 8.9% min USD 250 | 6% min USD 250 | 6% min USD 250 | Applicable on approved purchased order proforma value |
| 2.1.2 | Purchase order amendment Charge | USD 150 | USD 100 | USD 100 | Applied for amendment except for amendments which are not allowed by NBE(supplier, description of goods, etc) |
| 2.1.3 | Purchase order extension commission before expiry | 9.5% per quarter & part thereof on outstanding purchase order min of USD150 | 6% per quarter & part thereof on outstanding purchase order min of USD150 | 6% per quarter & part thereof on outstanding purchase order min of USD150 | This charge applied if extension is requested and approved before expiry of the PO |
| 2.1.4 | Purchase order extension commission after expiry | 10% per quarter & part thereof on outstanding purchase order min of USD 150 | 6.5% per quarter & part thereof on outstanding purchase order min of USD150 | 6.5% per quarter & part thereof on outstanding purchase order min of USD150 | This charge applied if extension is requested after expiry of the PO |
| 2.2 | Upon Settlement of the documentary collection (IBC) | ||||
| 2.2.1 | Exchange Payable | 2.5% for LCY account | free | free | |
| 2.2.2 | SWIFT | USD 200 | USD 200 | USD 200 | Applicable for any outgoing SWIFT message except bank to bank communication |
| 2.2.3 | Custody Charge | USD 125 per month | USD 100 per month | USD 100 per month | This charge is applied for documents held at our custody beyond 30 days |
| 2.2.4 | Excess drawing (on invoice excess amount) if any | 11% per quarter & minimum of USD 600 | 7% Minimum USD 250 | 7% Minimum USD 250 | Applicable only on excess overdrawn amount. However, if excess amount is less than USD 600 or equivalent in other currency, minimum charge is waived |
| 2.2.5 | Inward Bills for collectionsdocument examination fee | ETB 500 flat | ETB 100 flat | ETB 100 flat | |
| 2.3 | Settlement of IBC against suppliers credits | ||||
| 2.3.1 | Service Charge | 9.5% min USD 250 | 6% min USD 250 | ||
| 2.3.2 | Extension of Purchase Order | 8% min USD 250 | 1.5% | ||
| 2.4 | Other CAD Charges | ||||
| 2.4.1 | Unpaid items returned | ||||
| 2.4.1.1 | Service charge | USD 100 | USD 100 | USD 100 | Applicable for CAD document returned |
| 2.4.1.2 | SWIFT | USD 50 | USD 50 | USD 50 | Per SWIFT communication |
| 2.4.1.3 | Protest charge | USD 20 | USD 20 | USD 20 | Applicable for only CAD documents returned by rejection |
| 2.4.1.4 | Courier charge | per cost | per cost | per cost | |
| 2.4.2 | Unpaid items held in trust | ||||
| 2.4.2.1 | Acceptance bills of 12 months | USD 25 | USD 25 | USD 25 | Applicable for CAD documents on acceptance and held on trust per period on beneficiary's account |
| 2.4.2.2 | Sight documents aged over 3 months | USD 30 per period & part thereof | USD 30 per period & part thereof | USD 30 per period & part thereof | Applicable for CAD documents on sight and held on trust per period on beneficiary's account |
| 2.4.2.3 | Protest charge | USD 100 | USD 100 | USD 100 | Applicable for only CAD documents held on trust on beneficiaries account |
| 2.4.2.4 | Courier charge | per cost | per cost | per cost | |
| 2.4.3 | Other charges | ||||
| 2.4.3.1 | Partial Shipment Charge | For the 1st partial shipment - Free | for the 1st partial shipment - Free | for the 1st partial shipment - Free | This partial shipment charge is waived only for the first partial and applicable for all subsequent partial shipments |
| For 2nd partial Shipment - 1% of commercial invoice value or minimum of USD 150 | For 2nd partial Shipment - 1% of commercial invoice value or minimum of USD 150 | For 2nd partial Shipment - 1% of commercial invoice value or minimum of USD 150 | |||
| For 3rd & 4th partial shipment - 2.5% of commercial invoice value or minimum of USD 200 | For 3rd & 4th partial shipment - 2.5% of commercial invoice value or minimum of USD 200 | For 3rd & 4th partial shipment - 2.5% of commercial invoice value or minimum of USD 200 | |||
| For 5th & Beyond - 4% of commercial invoice value or minimum of USD 250 | For 5th & Beyond - 4% of commercial invoice value or minimum of USD 250 | For 5th & Beyond - 4% of commercial invoice value or minimum of USD 250 | |||
| 2.4.3.2 | Shipment after expiry of PO & prior to PO issuance | Within 10 days - 2.5% | Within 10 days - 2.5% | Within 10 days - 2.5% | This charge is applicable for shipment after expiry of PO or prior to issuance of PO. However, only if prior approval from NBE or the CEO. |
| For >10 days - 6.5% min of USD 500 | For >10 days - 5.5% min of USD 500 | For > 10 days - 6.5% min of USD 500 | |||
| 2.4.3.3 | Handling charge of documents arrived after expiry date of PO | Within 10 days - Free | Within 10 days - Free | Within 10 days - Free | This charge is applicable on commercial invoice value for any documents received at our counter 11 days after expiry of LC. However,it applies for LC shipped within LC validity |
| From 11 - 30 days - 3.5% min USD 150 | From 11 - 30 days - 3% min USD 150 | From 11 - 30 days - 3.5% min USD 150 | |||
| For > 30 days - 4.5% min USD 250 | For > 30 days - 4% min USD 250 | For > 30 days - 4.5% min USD 250 |
3. Outgoing and incoming transfer
| No | Description | From Wegagen Bank | From Retention & other FCY A/C | From Diaspora A/C | Rule for Application of period & Value |
|---|---|---|---|---|---|
| 3 | Outgoing and incoming transfer | ||||
| 3.1 | Outstanding (TT) | ||||
| 3.1.1 | Service Charge | 13% of transfer value min USD 150 | 6% Minimum USD 250 | 6% Minimum USD 250 | Applicable on transfer value |
| 3.1.2 | Exchange commission to NBE | 2.5% on LCY account | free | free | {/**/} |
| 3.1.3 | SWIFT | USD 50 | USD 50 | USD 50 | |
| 3.1.4 | Amendment on transfer | USD 80 | USD 80 | USD 80 | |
| 3.2 | Retransfer of incoming transfer | ||||
| 3.2.1 | Service charge |
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|
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Applicable on retransfer above USD 100 |
| 3.2.2 | SWIFT | USD 35 | USD 35 | USD 35 | |
| 3.3 | Import Freight Payment | ||||
| 3.3.1 | Service charge for sea freight | 9.5% min of USD 150 | 4% min of USD 150 | 4% min of USD 150 | Only applied based on freight invoice value |
| 3.3.2 | NBE exchange payable | 2.5% in LCY account | free | free | |
| 3.3.3 | Service charge for land freight |
4. Export Letter of Credit (L/C)
| No | Description | From Wegagen Bank | From Retention & other FCY A/C | From Diaspora A/C | Rule for Application of period & Value |
|---|---|---|---|---|---|
| 4 | Export Letter of Credit (L/C) | ||||
| 4.1 | Export Letter of Credit (L/C) Advising Fee to other banks | 1,000 ETB | |||
| 4.2 | Amendment Export LC Advised to other banks | 1,000 ETB | |||
| 4.3 | Courier Charge | PER CHARGE |
5. Cash Notes Sales
| No | Description | From Wegagen Bank | From Retention & other FCY A/C | From Diaspora A/C | Rule for Application of period & Value |
|---|---|---|---|---|---|
| 5 | Cash Notes Sales | ||||
| 5.1 | Service charge from Birr A/C | 10.5% for customers having LCY account min 1500 Birr Free for WB staff |
3.50% | 3.50% |
6. Other charges
| No | Description | From Wegagen Bank | From Retention & other FCY A/C | From Diaspora A/C | Rule for Application of period & Value |
|---|---|---|---|---|---|
| 6 | Other charges | ||||
| 6.1 | Balance confirmation | 50 ETB | |||
| 6.2 | Photocopy charge | Birr 10/page | Birr 10/page | Birr 10/page | |
| 6.3 | Investigation (payment, etc.) | 250 ETB | 250 ETB | ||
| 6.4 | Investigation payment by courier (payment, etc.) | PER COST | PER COST | ||
| 6.5 | Change of Mode of Payment | 2000 ETB | 2000 ETB | ||
| 6.6 | Change of mode of Freight | 5000 ETB | 5000 ETB | ||
| 6.7 | Permit extension | ETB 2,000 | ETB 2,000 | ETB 2,000 | |
| 6.8 | Permit split for TT | ETB 2,000 | ETB 2,000 | ETB 2,000 | Applicable for request after document handed over |
| 6.9 | Issuance of Delivery Order | ETB 5,000 | ETB 5,000 | ETB 5,000 | Applicable upon request |
| 6.10 | Duplicate Advice | Birr 50 per ticket if transaction made within one year, Birr 500 per ticket if transaction made more than one year | Birr 50 per ticket if transaction made within one year, Birr 500 per ticket if transaction made more than one year | Birr 50 per ticket if transaction made within one year, Birr 500 per ticket if transaction made more than one year | Applicable up on request after document handed over |
| 6.11 | IBC document collected from client/supplier directly | USD 100 | USD 100 | USD 100 | |
| 6.12 | Small item Export permit issuance | USD 50 | USD 50 | USD 50 | |
| 6.13 | Swift Authentication fee | Birr 30/ Full Document | Birr 30/ Full Document | Birr 30/ Full Document |
NB
- Outgoing transfer for tuition fee and other invisible payment for staff is free of charge
- Supplier's credit payment is effected on 2 value date from settlement excluding non-working days
- FCY account holders requesting freight payment, the associated service charge is collected in ETB as per the tariff