Regulatory Alerts2014-04-16
Added · Updated
FEPD Circular No. 18: Issuance of guarantee in foreign currency favoring local project authorities on behalf of residents
Authorized Dealers are permitted to issue bid bonds, performance bonds, or guarantees in foreign currency on behalf of residents in favor of local project authorities for goods or services procurement tenders financed by the Government. This authorization is subject to the condition that any claim resulting from the invocation of the guarantee must be paid only in Taka equivalent and not in any other currency. The directive applies to tenders previously covered under guidelines for international or foreign donor agencies and extends this allowance to Government-financed tenders.
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.
Topics
fx
Share