International Chamber of Commerce (ICC) Established: In 1919 International Chamber of Commerce (ICC) Objectives : To serve world business by promoting trade and investment, open markets for goods and services, and the free flow of capital. ICC First President : Mr. Etienne Clementel, a former French minister of Commerce. […]
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AB Bank Limited Information of AB Bank Corporate Information Name of the Company: AB Bank Limited (ABBL) Legal Form: Public Limited Company Date of Incorporation: 31st December 1981 Commencement of Business: 27th February 1982 Registered Office: BCIC Bhaban, 30-31, Dilkusha C/A Dhaka 1000, Bangladesh Telephone: (+8802) 9560312 SWIFT Code: ABBLBDDH […]
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What are the objectives of the Bank? Objectives and importance of Bank Bank has various objectives as per other financial organizations. But the banking organization viewpoint is exceptional than others. The objectives of the bank can be viewed from three different perspectives: 1) The objective from the viewpoint of […]
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Commercial Invoice Feature of Commercial Invoice : The invoice is the list of articles containing their particulars and prices. It is also book-keeping instruments for the importer. i. The description of the good / Merchandise in invoice should corresponds with to that given in the L/C. Sample Commercial Invoice: 1. […]
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Banker and Customer Relationship Banker and Customer Relationship features: Customer: In general, any individual/organization that maintains an account with the bank is treated as a customer. But in some situations, Banker extends their services to the individuals/organizations even if they are not customers as defined above. According to the duration […]
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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 […]
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What is bank guarantee? What is bank guarantee? A guarantee is a promise made by the person/organization (or guarantor) to the Banker that he will pay the present or future debt in case of default by the principal debtor. So the guarantor is undertaking to repay the debt in case […]
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Essential Qualities of a Successful Banker 1. A Banker includes a person or corporation or company acting as a Banker.” – Negotiable Instrument Act, 1881 2. Banker includes a body of persons where incorporate or not who carry on the business of Banking. – Bill of Exchange Act, 1882 3. […]
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URR 725 URR 725 is the acronym of Uniform Rules for Bank-to-Bank Reimbursements. UNIFORM RULES FOR BANK-TO-BANK REIMBURSEMENTS APPROVED ON 15-16.04.2008. IN FORCE SINCE 01/10/2008 Table of Contents of URR 725 URR 725 – Article 1 Application of URR URR 725 – Article 2 Definitions URR 725 – Article 3 […]
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How many Parties are involved in Letter of Credit (L/C) There are mainly 6(six) parties involved in a letter of credit which may be summed up as under: a) Opener: The applicant of L/C or the Importer / Buyer / L/C applicant. b) Opening Bank: The Bank opening the L/C […]
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