Regulatory Alerts2025-05-29
Added
FEPD Circular Letter No. 19: Guarantees favoring local project authorities on behalf of residents
Authorized Dealers in Bangladesh may settle payments in foreign currency via the RTGS system if guarantees favoring local project authorities on behalf of residents are revoked. For guarantees issued on behalf of joint ventures, consortia, or associations involving foreign partners, Authorized Dealers must verify that proportionate collaterals, such as bank guarantees or SBLCs, are provided by those foreign partners. These amendments modify the conditions under which bid bonds, performance bonds, and guarantees are issued in foreign currency, while other relevant instructions remain unchanged.
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