FEPD Circular No. 13: Agency commission for handling vessels

Foreign Exchange Policy Department Bangladesh Bank Head Office Dhaka www.bb.org.bd FE Circular No. 13 Date: March 25, 2021 All Authorized Dealers in Foreign Exchange in Bangladesh and all foreign shipping lines/ their agents and licensed freight forwarders operating in Bangladesh Dear Sirs, Agency commission for handling vessels Attention of Authorized Dealers is invited to paragraph 1(iv)(a) and 1(iv)(b), chapter 10 of the Guidelines for Foreign Exchange Transactions -2018 (GFET), Vol-1 regarding minimum agency commission for handling of vessels at Bangladesh ports. 02. To bring rationalization in line with mode of transportation, it has been decided to revise minimum agency commission as stated hereunder: (a) Export on CFR or similar terms – 2.50 percent on total transportation charges; (b) Export on FOB or similar terms – 5.00 percent on total transportation charges; (c) Import on CFR or similar terms – 5.00 percent on total transportation charges; (d) Import on FOB or similar terms – 2.50 percent on total transportation charges;

3. Transportation charges in paragraph 2 shall include all the charges payable by the exporters/ importers including agency commission without limiting to freight charges only.
4. Other relevant instructions in this regard shall remain unchanged. Please bring the above instructions, effective for shipments from April 01, 2021, to the notice of your concerned constituents. The instructions of this circular have been issued under Section 20(3) of the Foreign Exchange Regulation Act, 1947 and are without prejudice to permissions/approvals, if any, required under any other law. Yours faithfully, (Md. Ali Akbar Faraji) General Manager Phone: 9530123