This credit facility assists importers of motor vehicles and other container goods, to clear import duty charges and facilitate faster settlement of duty charges to avoid high Port Storage and Demur-rage charges. All Import Duty Finance Loans are subjected to a loan appraisal process. This facility may be converted to a Log Book Finance facility at the expiry of one month, if the customer so wishes.
Motor Vehicle Clearing – Long Term
- Client requires a facility for more than one month.
- An interest of 6 % of the total cost incurred is charged.
- The facility is converted immediately into auto logbook loan after receipt of the log book
Motor Vehicle Clearing – Short Term
- Client applies for the facility for one month.
- 10% of the total cost incurred is charged.
- We retain both the car and the logbook and release them once the facility is repaid.
- No need for joint registration of the vehicle.
- Bill of lading 3 copies.
- Certificate of roadworthiness (Jevic).
- Country of origin logbook
- Export certificate, logbook etc. (translated into English where applicable)
- Facility is for 60 days.
- Interest rate of 12% and the client pays 20% cash and we release 20% worth of good then once he/she sells out the goods pays 40% cash and we release 40% equivalent worth of goods and finally the client clears the remaining 40% cash and we release the remaining goods.
- Note all the above should be done within the 60 days
- Bill of lading
- Certificate of conformity
- Packing list
- Invoice Fumigation certificate (applies for mitumba goods only).
Note: All the above mentioned documents MUST be original.