Application of Uniform Rules for Collections for Documentary Collection

Foreign Exchange Policy Department Bangladesh Bank Head Office Dhaka www.bb.org.bd FE Circular Letter No. 26 Date: July 13, 2025 Head offices/principal offices of all Authorized Dealers in Bangladesh Dear Sirs, Application of 'Uniform Rules for Collections' for documentary collection Please refer to FE Circular No. 1, dated June 25, 2007 in terms of which Authorized Dealers (ADs) are required to follow the rules of UCP 600 for issuing Letters of Credit (LCs) against import trade. Similarly, ADs need to ensure that the terms of the LCs are in conformity with the rules of UCP 600 for exports from Bangladesh. 02. In line with Import Policy Order and Export Policy in force, the Guidelines for Foreign Exchange Transactions-2018 and subsequent circulars allow ADs to utilize alternative payment methods (cash in advance, documentary collection, and open account) for permissible trade transactions, in addition to LC method. 03. While executing admissible import or export transactions under sales contracts on documentary collection basis, ADs are advised to observe the latest version of the Uniform Rules for Collections (URC) published by the International Chamber of Commerce. Please inform the above contents to your relevant constituents. Yours faithfully, (Md. Harun-Ar-Rashid) Director (FEPD) Phone: 9530123