FEPD Circular No. 11: Credit report of the foreign supplier

Foreign Exchange Policy Department
Bangladesh Bank
Head Office
Dhaka. www.bb.org.bd
FE Circular No.11 Date: 03 July, 2013
All Authorized Dealers of
Foreign Exchange in Bangladesh
Dear Sirs,
Credit report of the foreign supplier
Attention of the Authorized Dealers (ADs) is invited to paragraph 23(b), chapter 7 of the Guidelines for Foreign Exchange Transactions (GFET), Vol-1 (2009 Edition) regarding collection of confidential report of the exporters (foreign suppliers).
2. It has been decided that ADs should obtain confidential report of the exporters in all
cases where the LC/Contract exceeds USD10,000 (earlier it was BDT 5 lac) in cases where proforma invoices are issued directly by foreign suppliers and USD 20,000 (earlier it was BDT 10 lac) in cases where indents are issued by local agents of the foreign suppliers.
3. It has also been decided that such credit reports may be obtained from any
internationally reputed credit rating agencies acceptable to ADs. Head Offices/Principal Offices of all ADs shall maintain a central database of collected credit reports and allow their ADs to use the relevant credit reports of foreign suppliers stored in the said database.
4. All other instructions contained in paragraph 23(b), chapter 7, GFET, Vol-1(2009
Edition) would remain unchanged.
Please bring the contents of this circular to the notice of all concerned. Yours faithfully, (Md. Jahirul Hoque) Deputy General Manager Phone: 9512604