Update
March 19, 2020
Import into Algeria: The Bank of Algeria allows electronic formalities
Due to the widespread COVID-19 epidemic and the severe disruptions occured in the express delivery services, the Bank of Algeria issued a memo in which they allow to send electronically all transport documents required for import transactions.
The note states:
"These documents received electronically may be used to carry out all banking and customs formalities applicable to import transactions"
In addition: "the approved intermediary bank must defer on each of the documents received, the domicile number relating to the relevant import transaction"
Update
January 1st, 2020
New measures New import measures implemented by ABEF* related to the import of goods into Algeria
With the publication of several memos, ABEF reminds Algerian operators of the obligation to :
- substitute the currently used cash payment of imports, for a 9 Month deferred payment
- prioritise the use the FOB Incoterms (Free on bord) whenever possible
- use national shipping capacities as a priority.
The aim is to promote the use of their national maritime fleet with the the priority use of Algerian shipowners and reduce the use of foreign currency.
*ABEF : Association Professionnelle des Banques et des établissements Financiers.
Initially, these measures concerned imports of mobile phone products and household appliances (white and grey goods). They were extended, by 31 December 2019 at the latest, to all imports.
Compulsory use of the FOB Incoterm for all imports unless...
The use of the FOB Incoterm is become mandatory for all imports, except if its use would be impossible.
In this particular situation, imports could be carried out using CFR Incoterms, provided that the invoice is detailed in order to be able to determine:
- the prices of the goods
- the cost of transport
- the cost of insurance.
If the CFR Incoterm is used, insurance remained the responsibility of the Algerian importer. Furthermore, since the use of the CFR Incoterm did not require a reference to insurance in the supplier's invoice, it had to be paid for in Algerian Dinars by the Algerian importer.
