Regulatory Alerts2008-08-12
Added · Updated
FE Circular No. 05 : Advance payment against imports
Authorized Dealers in Foreign Exchange in Bangladesh are permitted to effect advance payments not exceeding USD 5,000.00 or its equivalent from the Exporter's Retention Quota for bonafide purposes, provided the contract or proforma invoice stipulates such payment. This authorization requires that a repayment guarantee is not obtainable from the supplier, the Import Policy Order is followed, and Form of Undertaking is obtained from the importer prior to remittance. Authorized Dealers must ensure repatriation of funds if goods do not enter the country within the stipulated time and adjust back-to-back Letter of Credit values to meet Import Policy Order requirements.
More like this from BB
BB published 33 documents in the last 30 days. We email you each new one the day it's published.