This document discusses import and export procedures and financing in Bangladesh. It lists the members of an import/export group and then outlines various topics related to import and export including import procedures under letter of credit, import and export financing options, and procedures for submitting back-to-back letter of credit applications. Pre-shipment and post-shipment financing options are explained for both imports and exports.
Descrição original:
Full procedure of Export and Import business as well as bank's papers submission activities.
This document discusses import and export procedures and financing in Bangladesh. It lists the members of an import/export group and then outlines various topics related to import and export including import procedures under letter of credit, import and export financing options, and procedures for submitting back-to-back letter of credit applications. Pre-shipment and post-shipment financing options are explained for both imports and exports.
This document discusses import and export procedures and financing in Bangladesh. It lists the members of an import/export group and then outlines various topics related to import and export including import procedures under letter of credit, import and export financing options, and procedures for submitting back-to-back letter of credit applications. Pre-shipment and post-shipment financing options are explained for both imports and exports.
Shaheen Shahed 133-063-0-451 Dil Mohammad Roni 133-064-0-451 Md. Niaz Murshed 133-068-0-451 Md. Mohsin Mollah 133-069-0-451 Mahadi Hasan Babu 133-067-0-451 Kamrul Hasan 133-065-0-451
IMPORT AND EXPORT PROCEDURE AND FINANCING OF RGM AT A GLANCE OUR ALL TOPICS IMPORT & EXPORT IMPORT PROCEDURE UNDER LC IMPORT FINANCING PRE SHIPMENT POST SHIPMENT EXPORT FINANCING PRE-SHIPMENT POST-SHIPMENT SUBMISSION OF BTB LC APPLICATION EDF (EXPORT DEVELOPMENT FUND) IMPORT & EXPORT
An import is a good brought into a jurisdiction, especially across a national border, from an external source. The party bringing in the good is called an importer The term export means shipping the goods and services out of the port of a country. The seller of such goods and services is referred to as an "exporter" and is based in the country of export whereas the overseas based buyer is referred to as an "importer" Import process - PRE-ASSESSMENT FOR THE PROPOSED IMPORT FINANCE - APPROVAL OF LCA FORM - SUBMISSION OF LC APPLICATION FORM WITH FOLLOWING REQUIRED PAPERS: -- LCA FORM DULY SIGNED AND APPROVED -- PRO FORMA INVOICE DULY SIGNED AND ACCEPTED -- INSURANCE COVER NOTE -- IMP FORM DULY SIGNED
3. LIM (Loan against imported merchandise): Its also a short term loan. The controlling power and ownership of merchandise goods possess by bank. 4. Cash credit (Hypothetic): Imported goods control by owner but ownership of goods hold by bank or financing organization. 5. Cash credit (Pledge): Imported goods and its ownership both hold by bank or financing organization
8. Deferred Payment Its a non-funded credit facility. Bank gives acceptance on behalf of importer.
PRE-SHIPMENT 1. Letter of credit L/C by its self is an irrevocable. So no need to take other authorized permission. 2. Cash Credit (Hypothecation) Bank Provide Hypothecation Cash Credit to its customer for day to day need of business. Enough Insurance is required in favor of Bank. Interest will be debited on monthly basis on all Cash Credit accounts. 3. Cash Credit (Pledge) Bank Provide Pledge Cash Credit to its customer for stores their goods in a warehouse for future trading purpose. Pledge Cash Credit limit decides as per the valuation of goods stored in warehouse. Pledge Cash Credit renew every year by the Bank. 4. Packing Credit Packing credit is nothing but a pre shipment finance given to exporters with a low interest rate to boost exports. Packing credit is given by authorized bank by the instruction of Reserve Bank as a government policy to promote exporters to earn foreign currency to strengthen financial status of a country. 5. Back to Back L/C
Two letters of credit (LCs) used together to help a seller finance the purchase of equipment or services from a subcontractor. With the original LC from the buyer's bank in place, the seller goes to his own bank and has a second LC issued, with the subcontractor as beneficiary.
6. LIM LIM is the short-term loan to the Importer, if he fails to retire the bill within the stipulated time. In LIM, after releasing the goods from the Customs authority, the possession of the goods remains with the Bank Purpose: To release the imported merchandise from the Customs authority.
8. LATR LTR is Post Shipment Import Trade finance given by the Bank to the Importer. Difference is, in Lim, the possession of the released goods remains under banks control but in LTR, the Goods remains with the Importer.
Securities: 1. The Letter of Trust Receipt. 2. Other sufficient Securities.
In the Trust Letter the importer acknowledges that the goods are held by him in trust for the Bank and agrees to make over the sale proceeds to the Bank. POST-SHIPMENT Negotiation of Export Bills. Time Loan. Loan against Cash Incentive. Loan against Duty Draw Back. SUBMISSION OF BTB LC APPLICATION LCA form duly signed and approved Proforma invoice duly signed and accepted Insurance cover note IMP form duly signed Master LC / contract (export order) THANK YOU