Regulatory Alerts2021-06-01
Added
FEPD Circular Letter No. 13: Agency commission for handling vessels
The Foreign Exchange Policy Department clarifies that the term "total transportation charges" in FE Circular No. 13 of 25 March 2021 shall be read as "gross freight" for the collection of agency commission by local agents of foreign shipping lines. This interpretation results in the revocation of paragraph 3 of the referenced circular. Additionally, a 5% agency commission applies to revenue from demurrage, detention, handling, or equivalent charges regardless of terms, for Authorized Dealers, foreign shipping lines, their agents, and licensed freight forwarders in Bangladesh.
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