How to Export

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  • Topic: Bank, Cheque, The Bill
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  • Published : January 11, 2013
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EXPORT

Procedure of Export from Exporter side:

1)To open an account with a Bank.
2)To be collect ERC (Export Registration Certificate) from CCI & E. 3)To collect TIN from Bangladesh Revenue Board.
4)To collect Export L/C / Transferable Export L/C.
5)To submit the Export L/C / Transferable Export L/C to the Bank through his letter pad and type Back to Back L/C. 6)To sign LCAF
7)To collect Insurance cover Note with money receipt and Vat paid certificate (only for Foreign B/B L/C) 8)To Sign IMP & Related charge documents.

Model of Party’s Letter for submission of Export L/C: MASS Fashion Ltd.

Manager
ABC Bank Ltd.
Gulshan Branch
Dhaka

Subject : Submission of Export L/C No. …………….…….. dt. ……..………… for US$. ………………….

Dear Sir,
Assalamu Alaikum Wa Rahmatullah.

Enclosed please find here with the original Export L/C No. ……………….. dt. …………. for US$. ………. for your necessary action and oblige.

Ma-assalam

Yours truly,

Managing Director
Mass Fashion Ltd.
7,Gulshan Avenue,
Dhaka

Enclosed: Export L/C. …………………….. dt. ………………..

Procedure of Export from Banker Side:

Step: 1 :At first Banker open an Account by receiving related paper as per Banking Rule.

Step: 2 :To receive the Letter / Application of submission Export L/C, Bankers at first verify the signature (Model of Application of the Client).

Step: 3 :If the Export L/C is transferable Export L/C, it is must to verify through the letter of “Confirmation of transfer ………………. Export L/C …………….. dt …………….. for US$. ………………

(Model of Confirmation Letter / Bank transfer)

Step: 4 :[ To confirm the Export L/C (for transferable Export L/C)/Direct received Export L/C]. After receiving Export L/C from the client, to check the following:

1)Transferable Export L/C’s Bank’s Authorised signature verify or not. 2)Form of Documentary Credit Irrevocable transferable or not. 3)Date of issue:
4)Date and place of Expiry: …………………… in Bangladesh. 5)Applicant:
6)Beneficiary:
7)Currency Amount:
8)Draft: At sight
9)Transhipment: allowed / Not allowed.
10)Last date of Shipment:
11)Terms of Delivery: FOB Dhaka / FOB Ctg.

Step: 5 :If the terms and condition of Bank Export L/C is ok to mark – LIEN WITH BANK.

Step: 6 :(LIEN MARKED) Export L/C Serial No. write of the file by red ink Ball point . i.e. To open a seperate Export L/C File.
Step: 7 :Advice the Export L/C to Applicant / Exporter.

Step: 8 :To Entry the Export Performance Registrar:

Column of Export Performance Registrar.

SL.NO.Export L/C No
& dateShipment dateExpiry dateDescription and
Quantity of goodsCategory
(Quota/not Quota)Amount
In F.C.Initial
12345678

B B L/C
And DateShipment
DateExpiry
DateAmount in F.C.
(BB Bills)InitialImport Bill No.
& dateAmount in F.C.Due datePaid onInitial
9101112131415161718

Negotiating
dateExport Bill No. (FBP/FBC)Amount in F.C.Amount in Local Tk.Date of realizationRealization amount in F.C.InitialRemarks 1920212223242526

Step: 9 :To open required B/B L/C, Local B/B L/C Under/ agt. the Export L/C (if discretionary power is available to open the above B/B L/C)
To open Back to Back Foreign L/C, the following documents signed by Exporter:

1)IMP form
2)LCA Form (Industrial)
3)LC Application form (Industrial)
4)Charge documents:
a)Promissory Note
b)Letter Authority
c)DP. Note Deliver Letter
d)Balance Confirmation
e)LIM/Mura – Agreement Import (150 Tk. Stamped)
f)Purchase schedule
g)Letter of Guarantee
h)Letter of Hypothecation
i)Letter of Continuity
5)Insurance Cover Note with money receipt & VAT Certificate.

Step: 10 :If Branch Manager’s discretionery Power is not available to open the B/B L/C (Foreign), B/B L/C Local, Proposal send to Head Office ID.

(Model of proposal to open B/B L/C)

It may open 75% amount...
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