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Hello,
Is this legal or standard procedure:
I recently found and importer in Cameroon however he says that in order
for him to make the payment in foreign currency, he has to make an
"Application for Foreign Currency transfer" to the Ministry of
Finance and Economy. The application form need to be signed by the
Buyer (applicant) and the Exporter (Beneficiary). Me being the exporter
am not sure weather this is a new genuine legal procedure or a scam.
The form looks very genuine, here are the wordings:
***********************************************
Applicant (s) person (s) recommending are warned that any of the
statements contained in their respective Declaration prove to be
untrue, they are liable for prosecution.
We are taken due note that application for remittance is subject to the
rules and USAGE AS STATED IN THE UNIFORM CUSTOM FOR REMITTANCE OF
FOREIGN CURRENCY Brochure N=B0CM/290
WHEREBY IT IS AGREED AS FOLLOWS
1-1We the applicant hereby agrees with the authority to import goods
and maintain all customs and laws guiding our economic states, failure
to adhere this affidavits should we render ourselves liable for
prosecution.
1-2We the beneficiary hereby undertakes and agrees with the authority
to maintain normally and adhere the due purpose on the appropriate time
to which any funds or payment is in our favour.
1-3We the applicant and beneficiary have accepted to present any
required documents and other bank requirements/charges required before
the transfer of the fund.
Applicant Details:......................................
Beneficiary Details: ...................................
The Authority Reserves the right notwithstanding any alteration to the
contrary contained in this payment application form.
Authorized signature ..................................
Applicant (Buyer/importer) signature...............
Beneficiary (seller/Exporter) signature..............
**************************************************
I don't understand the meaning of statements 1-2 and 1-3. Has anyone
recently exported goods to Cameroon which requires the above foreign
currency transfer form. Is this a standard genuine procedure? I intend
to give the customer/buyer the goods that he has paid for however if
this is some kind of scam what is the worst that can happen if the
customer is paying 100% TT upfront.
Please give me as much guidance on this as possible.
Thank you,
James
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