Sea Ports list of Bangladesh Seaport refers to the establishment for loading and unloading of goods having anchorage facility for ships and embarkation and disembarkation facilities for passengers. Since 80% people of the world live within 100 miles of coastlines, seaports emerged as immense economic important places for people of […]
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Payment Methods in import and export transactions
Payment Methods in import and export transactions In import and export transactions, sellers and buyers do not necessarily know each other and are taking many more risks than in domestic trade. How can sellers ensure that they will be paid? Should the currency in which they will be paid drop […]
Read moreHow To Begin Export
How To Begin Export The first step for new entrant is to identify the product or products which he intends to export. Before considering the product, one might begin by considering why to get involved with exports, at all. One may have the following objects for starting the exports. Greater […]
Read moreScrutiny of Import documents
Scrutiny of Import documents Scrutiny of Import documents Following points should be carefully checked in respect of the relevant documents: (a) Forwarding schedule of the negotiating bank whether there is any discrepancy mentioned in it whether there is any special instruction that cannot be complied with whether there is any […]
Read moreHow to make a checklist for documents preparation and examination
How to make a checklist for documents preparation and examination There are various steps involved in making a checklist for preparation of documents. Step by step discuss below: For the bank which receives the documents: After receiving the import documents at first makes an entry to your documents receiving (inward […]
Read moreInternational trade transport documents
International trade transport documents Models of the main international trade and transport documents ready to use with explanations about what they are and practical advice to complete them. Trade transport documents lists are given below: International Proforma Invoice International Commercial Invoice Commercial Invoice A formal demand note for payment issued […]
Read moreMain Document Used in Transport in Import and Export
Main Document Used in Transport in Import and Export Main Document Used in Transport in Import and Export are given below: Bill of Lading Consignment note / Delivery note Airway bill/Air consignment note Packing list and Weight note Goods received note/Cargo receipt Transport documents Transport document serves as an evidence […]
Read moreImport by Letter of Credit Authorisation Form-LCAF
Import by Letter of Credit Authorisation Form-LCAF Authentication/Registration Of LCAF: When the importer submits LCAF (Letter of Credit Authorisation Form) with other papers to the bank to open L/C, Bank will Authenticate the LCAF, confirming the following: IRC is valid, renewal fee paid (if required) Item to be imported is […]
Read moreWhy how and when importer import goods from other countries
Why how and when importer import goods from other countries At first we have to know what is import, Who is importer, what risks associated with import, What is import? Import is the buying of goods or products made in other countries for domestic use or resale’s own country […]
Read moreHow to obtain Import Registration Certificate (IRC) in Bangladesh
How to obtain Import Registration Certificate (IRC) in Bangladesh Required Supporting Documents: 1. Attested photocopy of valid Trade License 2. Tax Identification Number (TIN) 3. Attested photocopy of membership certificate from local Chamber of Commerce and Industry or relevant Trade Association 4. Original copy of Treasury Chalan 5. If a […]
Read moreHow Does Reporting On Online Import Monitoring System
How Does Reporting On Online Import Monitoring System Importers are registered under Importers Exporters and Indentors (Registration) Order, 1981 Imports are controlled by CCI&E under Imports and Exports (Control) Act, 1950 LCAF: LCAF is mandatory for all imports irrespective of the sources of payment. LC must be opened within 180 […]
Read moreH S CODE
H S CODE Classification of commodity has been introduced in early nineteenth century in Europe. Internationally accepted coding system was first introduced in 1931 as Brussels Nomenclature and in 1937 as League of Nations Nomenclature. Present nomenclature has been introduced by Customs Co-operative Council (CCC) as CCC N (nomenclature) in […]
Read moreWhat is Bill of Exchange
What is Bill of Exchange A bill of exchange is an order made by the shipper or an exporter who is called a drawer of bill to the buyer or importer who is called a drawee of the bill, asking him to make the payment of the amount specified in […]
Read more20 Import Quiz Test
20 Import Quiz Test Q.1. What is Foreign Exchange? Ans: Foreign Exchange: As per the Foreign Exchange Regulation Act. 1947, Section 2(d) “Foreign Exchange” means foreign currency and includes any instrument drawn, accepted, made of issued under clause 13 of Article 16 of the Bangladesh Bank order, 1972, all deposits, credits […]
Read moreStep of Letter of Credit Opening
Step of Letter of Credit Opening Step One: If any importer wants to open a L/C, the importer is to be a customer of the bank and the importer will maintain a Current Account. Step Two: Importer submits an application requesting for opening L/C for US$. …….. for import of […]
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