CargoX | CargoX Platform minimum unit purchase amount, and Excel document validation
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CargoX Platform minimum unit purchase amount, and Excel document validation

Nov. 23, 2021, noon

Dear CargoX Platform users,

Allow us to share with you an important update to the CargoX Platform.

New minimum amount of units when paying by bank transfer set to 15 𝕌 (=15 USD)

We are welcoming a growing number of freight forwarders to the CargoX Platform!

If you are a freight forwarder and wish to successfully manage the ACI filing process for an exporter exporting into Egypt, you need to complete the verification process on the CargoX Platform. The cost of the process is 15 Units (𝕌).

To accommodate freight forwarders, we have changed the minimum amount of units that companies can purchase by bank payment – the minimum is now 15 𝕌, down from 400 𝕌.

These typical costs for services provided on the CargoX Platform apply to all types of users:

  • Cost of company verification (mandatory for Egypt ACI) = 15 𝕌 (first time only!)
  • Cost of Egypt ACI filing = 150 𝕌 (min) - 165 𝕌 (max)

Unfortunately, the intermediary banks often deduct a transaction processing fee of USD 10-40 (and sometimes even up to 60!) from the bank transfer amount, regardless of the payee's instructions to cover all bank transfer costs (SWIFT setting: OUR).

Neither you nor CargoX has any influence over whether the bank adds a surcharge onto the transfer amount, or deducts the cost from the transferred amount.

CargoX always issues units in the amount of USD currency actually received. You should choose to transfer a USD amount that is sufficient to purchase the number of units (𝕌) beyond the minimum you need, just to stay on the safe side. Especially if you are in a hurry.

Units (𝕌) can be purchased through a bank wire transfer, or by credit card.

Validate your Excel invoice for NAFEZA on the CargoX Platform

The Egyptian Customs Authority requires all exporters to Egypt to submit an invoice in both a PDF document and a predefined, structured Excel document format when filing an ACI on NAFEZA.

CargoX now makes it possible for exporters to validate their Excel invoices before submitting the ACI filing - see this step by step guide for details.

This simplifies and speeds up the process, as you no longer have to wait until NAFEZA accepts or rejects your Excel invoice.

The new feature is available to all verified users of the CargoX Platform.

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