Regulatory Alerts2018-06-26
Added · Updated
BRPD Circular Letter No. 13: Regarding L/C Margin for Rice Import
The document terminates the previous directives that permitted zero-margin Letters of Credit for rice imports and required the settlement of revolving CC/OD loans within 30 days. It instructs banks to determine L/C margins based on bank-customer relationships, while explicitly prohibiting the issuance of zero-margin L/Cs under any circumstances. Additionally, it reiterates the mandatory requirement for all rice/paddy traders, including local mill owners, to settle or adjust advance/loan amounts at least every 45 days.
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