FEPD Circular No. 19: Amendment in Form of Undertaking

Foreign Exchange Policy Department Bangladesh Bank Head Office Dhaka www.bb.org.bd FE Circular No. 19 Date: 28 June, 2018 All Authorized Dealers in Foreign Exchange in Bangladesh Dear Sirs, Amendment in Form of Undertaking Attention of Authorized Dealers (ADs) is invited to Appendix 5/15 of the Guidelines for Foreign Exchange Transactions (GFET) 2018, Vol-1 in terms of which importer is to provide undertaking for making advance payment for import of permissible goods and services. 02. The said form of undertaking for making advance import payment has been amended and attached for necessary action as mentioned in Chapter-7, Paragraph-27 of the GFET. 03. This circular is issued in pursuance of the sub-section 3 of section 20 of the Foreign Exchange Regulation Act, 1947. Please bring the above instructions to the notice of all concerned constituents. Yours faithfully, (Md. Abdul Mannan) Deputy General Manager Phone: 9530319

See Chapter 7 Para 27 (i) APP. 5 15 BANGLADESH BANK FOREIGN EXCHANGE POLICY DEPARTMENT FORM OF UNDERTAKING (To be furnished by the importer for making advance remittances for permissible imports of goods and services). In consideration of Bangladesh Bank permitting me/us an advance remittance of ....................................... to ......................................................... I/we hereby undertake that the amount so remitted by me/us will be used solely for the purpose of payment for the goods/services described below to be imported into Bangladesh from .................................... in accordance with the regulations in force regarding such imports. I/We declare that the goods/services will be imported by me/us on or about ............................. and I/we undertake to produce to the Bangladesh Bank documentary evidence in respect of goods/services so imported including the authenticated copy of the Customs Bill of Entry for goods and supplier's invoice in original. I/We further declare that the amount paid by me/us in advance will be deducted from the invoice value of the goods (CFR)/services imported and that the deduction will be shown on the invoice. I/We do undertake to be held fully responsible under FER Act, 1947 if I/We fail to produce to the Bangladesh Bank documentary evidence in respect of service or the Exchange Control Copy of the Customs Bill of Entry in respect of goods in original within the stipulated time or bring back the remitted foreign currency into Bangladesh as the case may be. Name and address of the supplier Invoice value Description Country of Origin Particulars of L.C. Authorisation Form Goods Services Goods Services Goods Services Goods Services Signature and Stamp of the Importer Name of the Importer ________________________________________________________________________________ Address ____________________________________________________________________________________________ Registration Number with CCI & E___________________________________________________________________ Date ....................................... Signature and Stamp of the Authorised Dealer