IRC and ERC Image

What is IRC and ERC?

What is IRC and ERC?

IRC and ERC: Required papers / documents to obtain Import Registration Certificate (IRC)
Import Registration Certificate (IRC) and Export Registration Certificate (ERC) are issued by the office of chief controller of Import and Exports (CCI & E) of the government. Intending Imports and Exporters are to submit applications to CCI & E for registration along with required papers / documents.

Required papers / documents to obtain IRC

b.Trade license
c.Nationality Certificate
d.Income Tax Certificate along with TIN
e.Bank Certificate
f.Membership Certificate from Trade Association
g.Certificate of Incorporation, Article and Memorandum of Association (In case of Limited company) , Registered Partnership Deed (In case of Partnership firm)
h.Any other documents as per current Import Policy Order.

ERC (Required Documents / Papers)

b.Nationality, Assets Certificates of the proprietor/partnership deed of partnership firm / Memorandum and Article of Association of Limited Company.
c.Bank Certificate.
d.Trade license.
e.Income Tax Certificate along with TIN.
f.Any other documents as per current Export Policy of prescribed fees, concerned CCI & E office issue IRC and ERC.
On completion of required formalities and payment of prescribed fees, concerned CCI & E office issue IRC and ERC.
IRCs and ERCs are renewed every year on payment of prescribed fees.
For Import and Export of goods / services normally Letters of Credit are used as means of payment.

The following Books/Publications/Circulars etc. are followed for imports and exports  in Bangladesh.

a.Guide lines for Foreign Exchange Transactions published by Central Bank.
b.Import and Export Policy Order in force and Public Notice issued is Commerce Ministry.
c. UCPDC, ICC Publications including Publication NO. 600, 2007 Revision (To ensure uniformity of interpretation of International Trade)
d.F.E. Circulars issued by Central Bank.
e.International Circulars of   Banks.

H S CODE Classification of the commodity has been introduced in the early nineteenth century in Europe. An internationally accepted coding system was first introduced in 1931 as Brussels Nomenclature and in 1937 …