This is to reiterate the provisions of Section 9, CB Circular 1389, s. 1993, particularly paragraphs 1(b) and (c) thereof, on the import documents required to be submitted by importers to commercial banks prior to opening of import letters of credit, to wit:

xx b. Firm Offer/Proforma Invoice which shall contain information on specific quantity of the importation, unit cost and total cost, complete description/specification of the commodity and the Philippine Standard Commodity Classification statistical code;

c. Permits/clearance from appropriate government agencies whenever applicable; xx

Strict compliance herewith is enjoined.

Adopted: 25 Oct. 1993

(Sgd.) EDGARDO P. ZIALCITA
Deputy Governor