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FAQ: Finance and Economics

  1. How do I apply to start a barter trade business ?
    You must first complete an application form for barter trade. Forms can be obtained from the Finance and Economics Division for RM50.00.
     
  2. What documents should I submit / attach with the application form?
    Forms must be submitted in 8 copies and attached with:
    • A passport size photograph of the applicant.
    • A copy of the identity card of the applicant and partners.
    • A copy of the business license in the district where the business is run .
    • A copy of certificates of each cargo that is used to transport goods and still valid .
      1. Philippines trade ship agents .
        • Certificate of Inspection
        • Cargo Ship Safety Mainning Certificate
        • Coastwise Licence
           
      2. Indonesia trade ship agents
        • Certificate of Perfection
           
      3. Please indicate the number A.D. AIS Transponder for agents trading ships used, in the form clearly.
         
  3. What goods can be traded in Barter Trade?
    The items that can be traded in the barter trade business are groceries and goods allowed by Customs. However, such control items in the list attached to the application form can be traded if consented / approved by KPDNKK.
     
  4. Can I run a barter trade business pending approval of my application for an extension period?
    The ministry will issue a Temporary Letter of Permission for companies that do barter trade business pending comments / support from the relevant agencies of the National Security Council (NSC). Temporary permission will only be granted to companies applying for extension of the period and not broken (for example: Company A gets approval in 02/01/2012 and did not apply for an extension in 2013 after its expiry and then applied in 2014, this is considered a new application and Temporary Permission will not be issued . The Temporary Permission will be waived if the application itself does not have support from relevant agencies.