Shipments to Libya require special Certificate

Due to fraudulent practices identified by the Libyan authorities, and to protect the transfer of hard currencies from Libya, the Central Bank of Libya issued Resolution 96 on 30th April 2015.  This resolution came into force on the 30th April 2015 and covers the following:-

All Documentary Credits relating to the import of goods into Libya must now include a Certificate from an International Inspection company, such as SGS, Intertek or Bureau Veritas, which verify the quality and quantity of goods being imported into Libya.  The cost of this Certificate is the responsibility of the Beneficiary.

This Certificate is now a necessary document required to import goods into Libya and this regulation applies to all products.  Goods arriving without this Certificate will risk being impounded.

Part of the resolution is that all banks operating Letters of Credit for the import of goods must inform the Central Bank of any failure by their customers to comply with Resolution 96.

As a consequence of this regulation, all Cash against Documents transactions (CAD) have been temporarily suspended.

Maria Narancic from Point to Point Export Services is an independent international trade adviser who assists organisations world wide with their international trade projects, documentation, Documentary Credits and import/export training. She is based in the United Kingdom. If you require any further assistance with the matters mentioned above, please do contact us by e-mail on info@point-point.com or to access other articles on International Trade matters please do check out our website at www.point-point.com.

 

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