Bora Customs Duty Facility

This facility creates a faster way of settlement of duty charges to Kenya Revenue Authority (KRA) and avoid penalties. The facility is available to traders who import vehicles.

Loan term:

Up to 120 days. A longer tenure period is available for dealers in good standing on a case to case basis.

Requirements:

  • Bill of lading at least 3 original copies.
  • Invoice for the unit/Motor Vehicle.
  • Import Declaration Form (IDF).
  • Translated Japanese Log book (English).
  • JEVIC (Inspection report from Kenya Bureau of Standards, KEBS).
  • Copy of PIN Certificate.
  • Copy of ID

Fees:

  • Processing fees – 1%
  • Appraisal fees – 2%
  • Monitoring fees – 1%
  • Release fees – 0.5%.

Interest Rate:

1.17% per month and Parking / Storage fees at Ksh. 250 per day.

Security:

  • Physical Motor Vehicle whose duty is being financed.
  • Original Log Book on release by KRA Registry.
  • Comprehensive Insurance Cover with interest of Jamii Bank noted.

Financing beyond 30 Days:

  • Ability to pay evident-verifiable source of financing, e.g. monthly salary, other incomes or proceeds of sale of unit from an identified buyer.
  • Comprehensive Insurance cover with interest of JBBL noted.
  • If client importer requires to take away vehicle before settlement of full facility, Log book of vehicle to be retained by JBBL, plus joint registration.
  • Tracking device to be fitted on the vehicle by approved service providers.

Borrowing Solutions Form

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  • Borrowing Solutions

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