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International Trade Services

  • Trade Banking Services provides the following services for importers and exporters.



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File Type: PDF




Form A


Purpose : This form has 2 pages document. It is required for
non-trade remittance.


No. of copies required to be submitted to bank: 1 original


Irrevocable Documentary Credit
Application Form


Purpose : This form is required for issuance of
letter of credit.


No. of copies required to be submitted to bank: 1 original
(with adhesive stamp of MMK 200/- ) duly completed in all
respects & signed by authorized signatories + 1 COPY











Form THA-KA


Purpose : This form is 2 pages document, required for
trade remittance (imported goods).


No. of copies required to be submitted to bank: 1 original


Form E


Purpose : This form is 4 pages document, to be submitted
along with export documents.


No. of copies required to be submitted to bank: 1 original


Service Level Agreement


Purpose : This document include 7 pages

File Type: PDF



We are your direct trade gateway to Europe together with Commerz Bank.

PRE & POST IMPORT/EXPORT SHIPMENT FINANCING AVAILABLE IMMEDIATELY AT CB BANK, FOR ALL THE MAJOR LATEST TRADE PRODUCTS WITH FAST TURNAROUND TIME :

  • EXPORT LC BILLS – NEGOTIATION
  • EXPORT COLLECTION BILLS – DA/DP – DISCOUNTING
  • PRE-SHIPMENT FINANCE FOR PACKING LOAN
  • INVOICE FINANCING – SALES/PURCHASE
  • BACK TO BACK LC
  • TRANSFERABLE LC
  • LOCAL LETTER OF CREDIT / TRUST RECEIPT FINANCING
  • PRE-SHIPMENT IMPORT FINANCE - USANCE PAYABLE AT SIGHT – UPAS
***Hotline: 01-378644, 01-260891, 09261997208***

Email : ,

Export

CB Bank provides the following services for the exporters.


(a) Advance Payment (Advance Payment for Export)

     Advance payment shall be made for the export and advances are credited to respective Company Account.

Required Documents for Export TT

  • Credit Confirm Letter with Company Letter Head
  • Export Declaration Form

     FAQ

Q1 : What kinds of FX remittance are available through Business Banking?
A : You can make Telegraphic Transfer (for Export), including USD & EUR, JPY and SGD Instant Remittance via Business Banking.

Q2 : When will the Export TT instruction be executed?
A : Under normal circumstances, the Export TT instruction will be executed on same business day.

Q3 : When will the Beneficiary receive the fund?
A : For the Export TT instruction submitted before the cut-off time, it will be executed on the same business day subject to good fund received. The beneficiary will receive the fund depending on the paying bank’s and payee bank’s processing time.

(b) Export Letter of Credit System
  • Export Letter of Credit Advising
  • Export Letter of Credit Confirmations
  • Amendment Export Letter of Credit
  • Cancellation Export Letter of Credit
  • Lodge for Export Bills and claiming for Settlement Amount


Required Documents for Export LC

  • Original Export License (If need)
  • Export Declaration Form
  • Shipping Documents
  • Credit Confirm Letter with Company Letter Head
      FAQ

Q1 : How do I apply for Negotiation of Export Letter of Credit?
A : Submit the completed LC Negotiation Form and Bill of Exchange together with your required stipulated documents and your Original Export LC and LC amendments (if any) to any CB Bank Branch. Please ensure that both documents bear signatures of the Company Signatories and the Company Stamp.

Q2 : If my documents presented are discrepant, can I request CB Bank to send documents to the issuing bank for acceptance or payment?
A : If you are confident of the Buyer accepting all discrepancies and have no wish to amend your documents, you may instruct CB Bank to forward documents to the Issuing Bank for their acceptance or payment.

(c) Export Collection under Letter of Credit (Under Letter of Credit)

     The Seller who needs to be assured of receiving payment under Letter of Credit, Bank can serve with Export Collection Service.


(d) Export Collection under Bill for Collection (Under Bill for Collection)

     The Seller can be assured that the Buyer could not receive the documents from (Collecting Bank/Presenting Bank) unless he makes payment or accept      the bill of exchange as agreed.


Required Document for Export Collection (Under Letter of Credit /Bill for Collection)
  • Original Export License (If need)
  • Credit Confirm Letter with Company Letter Head

     FAQ

Q1 : How do I apply for Export Documentary Collection?
A : Alternatively, you can visit any CB Bank Branch to obtain the Application Forms. Submit the completed Documentary Collections Form and bill of exchange together with your shipping documents to any CB Bank Branch. Please ensure that both documents bear signatures of the Company Signatories and the Company Stamp.

Payment of Export Proceed

Export Proceed payment shall be credited to respective Company Account.

Export Financing

Pre-Shipment Financing

1. Pre-Export Packing Loan

  Packing Loan is a pre-export financing scheme to financing manufacturing or processing of goods for shipment.

  Procedure

     1. Buyer sends you LC through his bank.
     2. CB Bank advises you of the incoming LC.
     3. You apply for packing loan from CB Bank.
     4. CB Bank credits your account.
     5. You manufacture and ship the goods to the buyer.
     6. You present the trade documents to CB Bank.
     7. CB Bank forwards the trade documents to the buyer through issuing bank.
     8. Buyer pays CB Bank at the LC's maturity through issuing bank.

  Benefits to Your Business
  • Support your cash flow position during manufacturing and before shipment.
  • Seize more business opportunities by having financing to support working capital.
  • Improve your competitiveness by offering more attractive credit terms to your customers.
  Pricing
  • We will get in touch with you provide you with a quotation of applicable charges.
  Processing
  • To provide more flexibility, the cut-off time to submit the application is at 4 pm Monday to Friday. Your application can be processed within the next 3 working day if you already have a credit line with CB Bank and can submit all the required documents.

     FAQ

Q1 : Which customers are eligible to Trade Facility?
A : Customers who has got great Credit rating by CB Bank’s appraisal.

Q2 : Which businesses are suitable for Pre Shipment Financing (Pre Export Packing Loan)?
A : Customers who has got great Credit rating by Corporate Banking & Enterprise Banking.

Q3 : What kinds of Collateral are acceptable?
A : Land and Building (or) Original LC.

Q4 : How long does it take to finalize a Packing Loan appraisal?
A : Within (5) days after the customer submit the application with complete set of required documents.

Post-Shipment Financing

1. Export Invoice Financing (Sales)
  • Export invoice financing is a type of account receivable (AR) financing for export transactions where you can sell receivables under export commercial invoices.
  Procedure

    1. You ship the goods to the Buyer.
    2. You submit invoice financing application to CB Bank with trade documents.
    3. CB Bank purchases your copy of export shipping documents with recourse basis and credits your account.
    4. You receive payment directly from the Buyer. You will pay back the proceeds to CB Bank.

     FAQ

Q1 : Which customers are eligible to Trade Facility?
A : Customers who has got great Credit rating by CB Bank’s appraisal.

Q2 : What kinds of Collateral are acceptable?
A : Land and Building (or) Original LC.

Q3 : Which documents are required to apply the Invoice Financing?
A : Due to the higher risk nature, Invoice Financing can be provided to customers with great credit rating.

2. Export Bills Purchase for Sight and Usance LC
  • Export Bills Purchase under LC is a short-term financing scheme for exporters. You can receive advanced financing by selling the export LC documents to CB Bank at the face value after the discount, provided all the term and conditions comply with LC.
  Procedure

    1. Buyer sends you LC through his bank via advising bank.
    2. CB Bank advises you of the incoming LC.
    3. You ship the goods to the buyer according to LC Terms and Conditions.
    4. You submit export bills application to CB Bank with trade documents drawn under the LC in strict compliance with terms and conditions.
    5. CB Bank purchases your LC Bills and credits your account with recourse basis.
    6. Issuing bank / Buyer pays CB Bank at Sight &/or Usance at maturity date.

     FAQ

Q1 : Which customers are eligible to Trade Facility?
A : Customers who has got great Credit rating by CB Bank’s appraisal.

Q2 : What kinds of Collateral are acceptable?
A : Land and Building (or) Original LC.

Q3 : What is the maximum amount for Export Bill Purchase?
A : If the shipping documents fully comply with LC terms, the bank will purchase up to 70% of bill amount.

3. Export Bill Purchase under DP ( Documents against Payment )

  Procedure

     1. You ship the goods to the Buyer.
     2. You submit DP purchase application to CB Bank (Remitting Bank) with the trade documents.
     3. CB Bank purchases the DP and credits your account.
     4. CB Bank sends trade documents to the Buyer through his bank (Collecting Bank).
     5. Buyer makes payment to CB Bank (Remitting Bank) through his bank (Collecting Bank).
     6. Buyer's bank releases the trade documents.

  Benefits to Your Business
  • Improve your business's cash flow by receiving payments before the customer pays you.
  • Allow you to offer extended credit terms to your customers.
  • Reduce the currency exchange risk by receiving the payments ahead of maturity.
  • Allow you to reinvest your revenues immediately.
  Pricing
  • We will get in touch with you provide you with a quotation of applicable charges.

     FAQ

Q1 : Which customers are eligible to Trade Facility?
A : Customers who has got great Credit rating by CB Bank’s appraisal.

Q2 : What kinds of Collateral are acceptable?
A : Land and Building.


DOWNLOAD FORM & PAMPHLET

Import

Import Department provides the following services for the importers.
(a) Letter of credit.
(b) Collection

    (a) Import Letter of credit.

    • Issuing Import Letter of Credit
    • Amendment of Import Letter of Credit
    • Import Payment under Letter of Credit
    • Import Payment under Bills for Collection (DP/DA)
    • Shipping Guarantee Issuance

    Required Documents for Opening Import Letter of Credit

    Filling in the four LC Application Forms and stamping with MMK 200 Special Stamp duty on the original among these forms and signing on them.

    • Import License (If need)
    • Sale Contract/Proforma Invoice
    • Debit Authority Letter with Company Letter Head

         FAQ

    Q1 : How do I obtain an Import Letter of Credit from CB Bank?
    A : Import Letters of Credit are an credit, like a loan. The Bank must make a decision to grant you credit, just as it would for any commercial loan. If you currently do not have any facilities with CB Bank, but wish to open an LC or establish facilities with the Bank, Please contact us at: Email: trade.dept@cbbank.com.mm / Tel: (95-1) 378644

    Q2 : How do I apply for Import Letter of Credit?
    A : You can simply download and print out the LC Application Form from the following link: Download
    You can visit any CB Bank Branch to obtain the Application Forms. Submit the completed LC Application Form bearing signatures of the Company Signatories and Company stamp to any CB Bank Branch. You will need to have a pre-arranged Trade Facility to facilitate the processing of your application. If you do not have existing Trade facilities, you will need to submit a LC application Form together with a LC Margin Deposit.

    Q3 : How do I obtain an Import Letter of Credit if I do not have existing trade facilities?
    A : The bank may issue a LC based on the credibility of the Buyer. Buyer will need to place a Letter of Credit margin deposit of approximately 100% to 110% with the bank. The LC margin deposit percentage will be dependent on the Trade Incoterms that you are applying.

    Q4 : Can the importer complete the Import Letter of Credit application online?
    A : Yes. Customers who regularly require Letters of Credit will be able to download the Bank’s application forms from CB’s website at cbbank.com.mm

    Q5 : Do I have a copy of the Letter of Credit after I applied?
    A : Upon successful LC application, you will receive a copy of the LC. This copy will be sent either via mail to you or for your collection at our CB Bank Trade Services Counter depending on the selection you have chosen on the LC Application Form.

    Q6 : What do I do if I decide to cancel the Letter of Credit after CB Bank has issued it?
    A : You will need to give us a written instruction on the cancellation of your LC. CB Bank will only cancel your LC upon receiving your Beneficiary’s consent through the Advising Bank of the Credit.

    Q7 : When will the Letter of Credit margin deposit be refunded to my account?
    A : For refund of LC margin deposit; any unutilised LC amount after LC expiry date will only be refunded to you at least one month after the LC expiry date. If the LC is a usance credit, such deposit balance will be refunded after the latest maturity date of the import documents drawn under the credit.

    Q8 : How will I be notified if my Import document has arrived? And what should I do?
    A : You will receive a “Collection Notice” via mail /phone from CB Bank.
    There are 2 settlement options for you to select:
    • To debit from your account OR
    • To require Trust Receipt Financing (You will need to have a pre-arranged Trade Facility.)

    Prior to the collection of your import documents from your collection location, you are required to obtain the Company signatories to sign on the Original Collection Notice together with your Company Stamp and provide CB Bank with your instructions in settlement of the import bill.
    If the Collection Notice has discrepancies stated pertaining to your documents.
    Please reply via mail to us first if you are accepting the discrepancies unless otherwise stated in order for CB Bank to disburse the payment for at Sight LC, you are required to obtain the Company signatories to sign together with Company Stamp.

    (b) Collection

    The buyer sent the documents from (collecting bank) Presenting unless buyer made payment or accepted the bill of exchange as agreed.

         FAQ
    Q1 : What is Documentary Collection?
    A : Documentary Collection (including Bills of Exchange) can be another option to be considered when negotiating a contract of sale. Collections can be either at sight or term, also depending on contract of sale terms. If the collection is at sight, that is Documents Against Payment (D/P Sight), the Importer/Buyer must pay the amount of the collection, before they receive the documents that are needed to clear the goods.
    If the collection is at a previously negotiated agreed term, that is Documents against Acceptance (D/A xxx days/xxx days from shipment date), the Importer/Buyer is usually required to accept a Bill of Exchange before documents are released.
    Collections are sent and received with various instructions and each collection will be treated individually, depending on the instructions.

    Q2 : How will I be notified of arrival of my Import Collection document? And what should I do?
    A : For Documents against Payment (D/P)
    You will receive a “Debit Note” via mail /phone from CB Bank. There are two settlement options for you to select from:
    • To debit from your account OR
    • To employ Trust Receipt Financing (You will need to have a pre-arranged Trade Facility)
    Prior to collecting your import documents from your collection location, you are required to obtain signatures of the Company signatories on the Original Debit Note together with your Company Stamp and provide CB Bank with your settlement instructions for the Import Collection bill.
    If you choose to debit from your account, you can also obtain signatures of the Company signatories on the faxed copy together with your Company Stamp and provide CB Bank with your settlement instructions for the Import Collection bill.

    For Documents against Acceptance (D/A)
    You will receive a “Debit Note” via mail /phone from CB Bank. You will need to collect the Original Debit Note and bill of exchange from your designated collection location.

    Prior to collecting your import documents from your collection location, you are required to obtain the signatures of the Company signatories on the bill of exchange and Original Debit Note (optional) together with your Company Stamp to exchange for your Import documents.

    On the maturity date of D/A bill, you are required to let us have your instructions regarding the settlement of the bill.
    There are two settlement options for you to select from:
    • To debit from your account OR
    • To employ Trust Receipt Financing (You will need to have a pre-arranged Trade Facility and is subjected to the availability of your TR Tenor)


Shipping Guarantee

Shipping Guarantee Issuance

CB Bank provides shipping guarantee when the goods under LC have been arrived before the receipt of bill of lading and shipping documents.

Required Documents for Shipping Guarantee

  • Application with Company Letter Head
  • Bill of Lading (Copy)
  • Commercial Invoice / Packing List (Copy)
  • Indemnity Bond Form Bank
  • Shipping Guarantee Form from Shipping Line
  • Import License Original (If need)

     FAQ

Q1 : How can I arrange for cargo clearance when the Original Shipping Documents (including full set of Original BLs) have not been received under CB Bank’s LC?
A : The Applicant (Buyer) may apply for a Shipping Guarantee (SG) issued by CB Bank in favors of the shipping company. This is to facilitate clearance of cargo from the port and to avoid paying demurrage charges when the vessel is arriving before the receipt of shipping documents called for under CB Bank’s LC. This SG will subsequently be redeemed by the Applicant when original BLs is presented under CB Bank’s LC.
Shipping Guarantees are formal financial obligations or undertakings in favour of third parties, issued by banks on behalf of customers, to facilitate their business dealings.

Q2 : How do I apply for Shipping Guarantee?
A : You can simply use the Application Form with Company Letter Head
For Delivery without Bill of Lading
Application & Indemnity for Shipping Guarantee – Delivery without Bills of Lading
For Endorsement of Airway Bill **
Application & Indemnity for Endorsing of Airway Bill
For Endorsing Original Bill of Lading **
Application & Indemnity for Endorsing Original Bill of Lading
Submit the completed Shipping Guarantee Form bearing the signatures of Company Signatories and Company stamp together with the required attachment to any CB Bank Branch.

Q3 : What should I do when I receive my Original Bill of Lading / Original Airway bill from CB Bank after I apply for Shipping Guarantee?
A : If you have applied your Shipping Guarantee:
For Delivery without Bill of Lading
You are required to return your Original Bill of Lading to your Shipping Company in exchange for the Shipping Company’s Letter of indemnity and return this indemnity to CB Bank to discharge your liability.
For Endorsement of Airway Bill
You are not required to return the Original Airway Bill to CB Bank / Airline Company or agents You may keep it for your records.

For Endorsing Original Bill of Lading
You are not required to return the Original Bill of Lading to CB Bank / Shipping Company. You may keep it for your records.

CONTACT US

Q1 : Who can I call at CB Bank for assistance on my queries?
A : Trade Enquiries (General) Tel: (95-1) 378644

Q2 : Where are CB Bank Trade Services located?
A : No.334/336,Corner of 23th Street and Stand Road, Latha Township,11141, Yangon, Myanmar.

Email : ,

Remittance

Inward service helps enhance for CB bank customer by providing inward funds transfer needed. Hence, you and your business can receive notification of incoming funds from any bank by using SWIFT Code CPOBMMMY every time when transferring money to Myanmar.

** Receive notification by using CB bank e-statement /e-Alert **

Key Features

Details information for inward funds

  • Beneficiary’s bank
  • Beneficiary’s bank SWIFT Code (CPOBMMMY)
  • Beneficiary’s name
  • Beneficiary’s account number
  • Purpose of payment
Charges

Local currency 10,000 (Equivalent foreign currency) for 1 transaction.

Cancellation charges

Cancellation charges is local currency 10,000 (Equivalent foreign currency)

Required documents

*Especially for investment funds

Capital brought in/ Capital injection/ Working capital - Company registration
- Form 1 (Form of permit) (issued by MIC/DICA)
- Form VI/XXVI
*For offshore loan - Approval from Central Bank of Myanmar

For more information, please contact:
CB bank (HO) /Branches
Corporate banking
Hot line ph: 01-378643, 373560 (within office hour)


CB Bank can provide overseas transfer (Outward transaction) for Trade and Non-Trade Payment. Customer can transfer money to anywhere in the world conveniently, accurately and swiftly.

*Conduct outward remittance transactions easily via CB Bank.*

From Anywhere,

You can be assured of accurate, convenient and fast outward remittance which will be seat within (T+1).

** The bank is not allowed to make money transfer to countries on the sanction list. **


Flexible choices of sending

Outward remittance can be carried out at any CB bank branch across the country. You can make transactions without travelling to the bank using internet banking for non-trade payment.

  • Customers have to open FCY A/C CB Bank (HO) or Branches.
  • Customers have to submit TT application Form, Form (A) or Form (Tha-Ka) and Related Documents. (Original and Copy)
  • ** Customer can get TT application Form, Form (A) or Form (Tha-Ka) physically and CB Bank website. **
  • No limitation for trade payment.
  • For service payment: Travel facilities (holiday and business, medical and dental expenses, study fees, conference, congress seminar and examination fees) may apply USD 10,000 or equivalent foreign currency
  • **Over limitation amount, have to submit to CBM for approval. **
  • After Processing of funds customer can get SWIFT and debit advice.

Required Documents
Type of Remittance Objective of Remittance Required Documents
Payments of Goods For Payments of products imported or shipped from foreign countries. - Import License (if needed)
- Import Declaration Form (ID)
- Bill of Lading (B/L) or Air Waybill (AWB) and / or cargo receipt
- Invoice and packing list.
Service Fees (For Payments of services)   Management fees, Royalty Fees - Contract and / or Agreement
- Bill issued by services provider
Delivery fees - Bill issued by service provider.
Product insurance premium / Fees - Bill issued by service provider.
- No objection letter from Myanmar insurance
Air Ticket fees and Freight charges - Application with company latter head
- Audit Report
- Passenger and cargo revenue statement
Medical Expenses Healthcare-related expenses, such as medical fees. - Passport
- Bill issued by service providers abroad.
Investment in Business Abroad   Loan principle and loan interest - Application with company letter head
- Repayment schedule
- CBM approval
Dividend - Application with company letter head
- Financial report
- Audit report
- Income tax copy
- Meeting minutes
- MIC Permit
- Company registration
- Form 6/26
Liquidation - Application with company letter head
- Meeting minutes
- Company registration
- Form 6/26
- CRD Copy
- Advertisement from Newspaper
- CBM approval
Air craft purchase and Air craft rent - Application with company letter head
- Agreement (purchase or Rent)
- AOC (Air craft operation certificate)
- Form 5
- Repayment Schedule
General Salaries - Passport Copy
- Work permit
- Job contract/ Job Agreement
- Payroll/ Pay slip
Education fees - Passport Copy
- Education related documents (Transcript of records)
Travelling expenses - Passport Copy
- Air ticket or other transportation ticket
- Related bill
Compensation - Order of court
Donation - Related reformation letter (Issued by Organization)
- Purposed of donations
Export refund - Application with company letter head
- Form E
- Sale Contract

Customers have to summit TT application with form THA-KA for trade payment and TT application with form A for non-trade payment.

(1) Ques : What are the eligible purposes for transferring funds from overseas ?
Ans : Inward remittance for company registration fees
Inward remittance for capital brought -in
Inward remittance for working capital
Inward remittance for capital injection
Inward remittance for company expense
Inward remittance for service charges
Inward remittance for commission fees
Inward remittance for tourism
Inward remittance for salary
Inward remittance for donation
Inward remittance for aids and grants
Inward remittance for compensation
Inward remittance for loans

(2) Ques : How long it take time from overseas to CB Bank ?
Ans : For direct Correspondent Bank T+1
Non direct Correspondent Bank may be 1 week

(3) Ques : Inward Currency is foreign currency (USD, Euro, SGD, JPY, THB) Beneficiary account is MMK account, Can credit ?
Ans : Yes, Customer has to accept FCY Buying/Selling Rate. Because our T24 has its system generated.

(4) Ques : Customer account at Cyber-Tech bank, Can credit ?
Ans : Yes, we may remit via domestic remittance.

(5) Ques : Inward Transaction big amount to credit ?
Ans : Some of big amount transaction may be (Capital Transaction and Loan Transaction) for capital transaction (Capital Brought In, Capital Injection and Working Capital)
Customer have to summit Company’s Registration and Form A
All Foreign Loan need Central Bank of Myanmar approval.
Big amount for donations need MOU & certificate of Ministry of Home Affairs.
Heritage need from Central Bank of Myanmar approval.

(6) Ques : For inward transaction, what information needed?
Ans : Country Name
Bank Name
Beneficiary Bank Swift Code
Beneficiary account number
Purpose of payment
Overseas remittance information with CB Bank
To get wire transfer to Myanmar, please advise your remitters as follows:-
  Bank name & address : Cooperative Bank Limited (PLC)
No.334/336, Corner of 23rd Street & Strand Road,
Latha Township, Yangon, Myanmar.
Bank SWIFT code : CPOBMMMY
Beneficiary Account No : Beneficiary Account Number with CB Bank
Beneficiary Name & Address : Beneficiary name & address in full details
Intermediate Bank Name : Depositary correspondent Bank of CB bank
Intermediate Bank swift code : SWIFT code of Depositary correspondent Bank of CB bank

(7) Ques : What are the required documents for off-shore loan transaction ?
Ans : Loan Agreement
Loan Repayment Plan
Repayment Schedule.

(8) Ques : How to apply for offshore loan to Central Bank of Myanmar ?
Ans : Customer has to submit to Central Bank of Myanmar the following attachment
Loan Agreement
Repayment Plan
Repayment Schedule
Address to Office No (55) Nay Pyi Taw, Central Bank of Myanmar.

(9) Ques : Let me know services charges for inward transaction ?
Ans : Yes. Local currency 10,000 (equivalent foreign currency) for one transaction.

(1) Ques : What are the countries restrictions under AML/ CFT laws ?
Ans : Targeted
     1) Iraq
     2) Western Balkans
     3) Zimbabwe
     4) Liberia (former regime of Charles Taylor)
     5) Ivory Coast
     6) Belarus
     7) Democratic Republic of Congo
     8) North Korea
     9) Somalia
     10) Libya
     11) Yemen
     12) Russia
     13) South Sudan
     14) Central African
     15) Republic
     16) Venezuela
Comprehensive
     1) Iran
     2) Sudan
     3) Syria

(2) Ques : Is there any limitation on outward payment transactions ?
Ans : No limit for trade payment transactions, if attached documents complete.
Non –trade payment (e.g. Gifts, donation, maintenance payment, legacies, transfers from estates and other aids) can transfer up to USD 10,000 per year. Excess of USD 10,000, have to submit to get approval from Central Bank of Myanmar.

(3) Ques : How long it take time from CB Bank to overseas ?
Ans : For depository Correspondent Bank T+1.
Non -depository Correspondent Bank may be 1 week.

(4) Ques : Advance payment, Can remit ?
Ans : All related documents are complete, bank may remit 30%, 35% (Max 50%)

(5) Ques : Do I need submit my KYC documents for outward transaction request send through money ?
Ans : No, as a CB Bank account holder you are not required to submit any KYC documents for availing this service. Customers have to submit only related documents for purpose of Payment.

(6) Ques : Let me know outward foreign remittance fees ?
Ans : For one transaction 0.125% of remitting amount (min USD 25) + cable charge MMK 2000.

(7) Ques : Can customer cancel their fund transfer request ?
Ans : Any cancellation request received for fund transfer will be handled by the bank on the best effort basic. But customer request letter is needed. Cancellation charges is MMK-10,000/-(or) Equivalent foreign currency.

(8) Ques : Can amend their fund transfer request? (E.g. Beneficiary name, account number, address) ?
Ans : Any amendment request received for fund transfer will be handled by the bank on the best effort basic. But customer request letter is needed. Amendment charges is MMK-10,000/-(or) Equivalent foreign currency.

(9) Ques : What are the eligible purposes for transferring funds to overseas ?
Ans : Outward remittance for salary
Outward remittance for management fees
Outward remittance for air ticket fees
Outward remittance for loan principal & loan interest
Outward remittance for trade payment
Outward remittance for tourism
Outward remittance for donation
Outward remittance for freight charges
Outward remittance for education fees
Outward remittance for export refunds
Outward remittance for aircraft purchase & air rental
Outward remittance for dividend
Outward remittance for compensation
Outward remittance for medical expenses
Outward remittance for insurance premium
Outward remittance for liquidation

(10) Ques : How to get outward remittance application ?
Ans : You can download Outward remittance application from the following link
http://www.cbbank.com.mm/business_banking/business_funds.aspx