1

Export Documents Delivery

0.5% mille of invoice value Maximum N5,000

2

Import Documents

a) Delivery

Cost of courier, Plus N5,000 maximum

b) Bills for acceptance and return to principals

Cost of courier, plus N5,000 maximum

c) if in respect of (b) bill is returned for collection and payment. Maximum Charge

Cost of courier, plus N5,000 maximum

1

Processing and Registration of Nigerian Export (NXP) form

N5,000

2

Advising Commission

a) When a Nigerian Bank simply verifies authenticity of the Credit and delivers same

N2,000 flat

b) When a Nigerian Bank has to rewrite the Credit

N0.5 per mille. Minimum equivalent of US$25

3

Confirming Commission

1%, minimum N5,000

Transferable Credits, Transferable and Divisible Credits (part-shipment)

When all or part of a credit is transferred, the charges (payable by the original beneficiary)

0.5% minimum US$25 or equivalent

Negotiation of Documents Commission plus Interest, if applicable, at local rate

1%

6

Processing and Registration of form M

N5,000 flat

a) Amendment

Negotiable, subject to a minimum of N5,000

b) Revalidation

Negotiable, subject to a minimum of N5,000

c) Extensions

Negotiable, subject to a minimum of N5,000

7

Establishment Commission

For credits up to 180 days

For credits up to 270 days

For credits up to 360 days

(these charges are on the period of validity of the credit)

1%, plus communication charge

1.25%, plus communication charge

1.5%, plus communication charge

8

Handling Commission

Maximum 0.5%. minimum N5,000

9

Renewal, Extension and Increase in the amount

Renewals

Extension:

Minimum Charge

NOTE: Where a letter of credit is extended for period in excess of 12 months from the date of establishment, Re-establishment Commission of 1% is payable.

Increases:

Additional Establishment commission should be charged on the amount of any increase for the unexpires period of validity of credit.

Minimum Charge

Credit may be renewed after 15th day following expiry only on payment of full Establishment Commission

N5,000.00 flat

N2,000.00 flat

10

Other Amendments;

On each occasion that amendments (other than those mentioned above) are made, a charge is to be made of at least

N2,000.00 flat

11

Usance Bill under Credit Guarantee Commissions;

When the Bank accepts or guarantees payment at maturity of draft drawn under credits Guarantee, commission should be charged

N3 per mille per month

N5 per mille per month