The country of first entry point shall collect the customs duties on consignments of goods and deposit them in the customs union accounts for the purposes of setoff for the benefit of the country of final destination within the GCC states upon presenting a proof of arrival of such consignments in that country.
Installment debt involves paying a certain amount each month over a predetermine period of time. An automobile loan is an installment debt. An interest rate is applied and paid out over say three to five years in most cases. Installment debt payments rarely change as most are fixed rate loans. However, the installment payment can be ignored if there are less than 10 months remaining, boosting borrowing power.
Just because you owe money on your car doesnât mean you canât sell it. The sales process may be more complicated, but itâs not uncommon to sell a vehicle with a car lien on it. The reasons a used car may have a lien vary. It may be that you owe money for unpaid repairs or you used your vehicle as collateral. More likely thereâs a lien because the vehicle was financed and hasnât been paid off yet. In any of those cases, the lender or lien holder owns the car and thus the title.