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Tuesday, 07 September 2010
NBB allows down payments under import contracts not exceeding 5,000 euros
The National Bank of Belarus (NBB) has allowed down payments under import contracts worth not more than 5,000 euros, the NBB said with reference to its instruction #31-14/244 of September 1, 2010.
“Banks [that will see to it that the provisions of the instruction are met] will not allow down payments if two or more foreign trade contracts are concluded in order to make advance payments in excess of 5,000 euros.”
Earlier, down payments were allowed only if the importer had an authorization from the central bank.
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