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Export to Algeria under l/c-uptodate
Posted: Thu Sep 16, 2010 8:37 pm
by picant
Hi Pals,
Has someone experience about exporting to Algeria via l/c?
I heard about difficulties, delays, strange conditions, unaccepted delivery terms etc.
Your replies appreciated
If it is possible quote the source.
Thanks and ciao.
export to Algeria
Posted: Fri Sep 17, 2010 2:25 am
by Hussam
Dear Sir,
you can export to Algeria only under LC, it is Algeria Government law
I have experienced more than 200 LCs since the effective date of the law, with no proplem
Minor difficulties
Posted: Fri Sep 17, 2010 2:38 pm
by Gart
Well, I had experienced no problem with payments under L/Cs issued by Algerian banks, but there are some minor difficulties: their banks are still lack of let's call it 'L/C culture': some of them stand on French language which is totally a problem in Northern Europe, are not willing to exchange direct RMA's and use their correspondent-banks i/o, etc. But I hope the time will fix this...
Export to Algeria under l/c-uptodate
Posted: Fri Sep 17, 2010 5:10 pm
by picant
Hi Pals,
I still awaiting for further comments, I have news from friends that something changed in September due to the approval of "loi de finances Complementaire", but no official rule is available in Internet.
Let me say that French is not difficult and that the exchange of RMA seems a strange thing, to avoid. I sent, in august, 30 msgs asking RMA, only two banks were interested.
I asked, without success, SWIFT to consider messages, not moving funds, not to be authenticated by reciprocal testkey arrangement. I mean if a message is sent by SWIFT and/or received from SWIFT, it must be authentic. In this way not few l/c s will reach the beneficiary's bank immediately and many banks will be satisfied in receiving an MT999 sating that documents have been accepted to mature on...(naturally in this case an mt799 or mt754 will be possible)
Thanks and excuse me for my vent.
Ciao
Some Algerian banks does not fulfill undertaking under LC
Posted: Tue Sep 21, 2010 3:36 pm
by cristiand969
I have experienced lot of issues with some algerian banks which (i will not give the name) , after elapsing 5 working days following receipt of docs they sent neither advice of discrepancy nor advice of payment . Each payment has been delayed more than 2 weeks and surprisingly deduction of discrepancy fee has been made in spite of complying presentation made and/or missing of any advice of discrepancy. On the other I have found out from my client that goods has been released before payment effected, so in order one can have a full overview.. .docs released without payment!
So take care!