Bank will earn US from reimbursing bank from the foreign and bank is also

Bank will earn us from reimbursing bank from the

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Bank will earn US$ from reimbursing bank from the foreign and bank is also earning commission from that. If the payment make overdue, on that time branch of the concerned bank will earn interest from that amount. 4.3.2.8. Back To Back L/C (BTB L/C): Back To Back L/C Opens: It is a secondary letter of credit opened by the advising bank in favor of a domestic/foreign supplier on behalf of the beneficiary original foreign L/C. As the original letter of credit of bank by import letter, it is called Back-to-Back L/C. The second L/C is opened on the strength of the original L/C for a smaller amount. Back To Back L/C (Foreign): When the B-To-B L/C is opened in a foreign country supplier it is called B-To-B L/C (Foreign). It is generally payable within 120 days at site. Back L/C (Local); When the Back-to-Back L/C is opened for local purchase of materials, it is called Back-to-Back L/C (Local). It is generally payable within 90 days at site. Back To Back L/C Export Development Fund (EOF): EOF provided by the ADB to Bangladesh Bank for export promotion of Third- World-Country like Bangladesh. When the bank is not in a position to support the amount of B-to-B L/C then they apply for loans to the Bangladesh Bank for B-To-
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B (EOF). 4.3.2.9. Procedures for Back To Back L/C: Exporter should make application for Back to Back LAC Export L/C or Master L/C under is lien Opening of Back to Back L/C Terms and conditions for Back to Back L/C That the customer has credit line facility That L/C is issued as per UCPDC 500 That on the Export L/C a negotiating clause is present That there is no provision for blank endorsement of B/L That payment clause is thereon the L/C issuing bank ensuring payment Consideration for Back To Back L/C: Whether client can manufacture within time period The unit price of the finished pro-forma invoice should be considering while allowing margin Consider the expiry date and shipment date Onside inspection whether manufacturing is carried out Payment under Back To Back L/C: Deferred payment is made in case of BTB L/C as 60, 90,120, 180 date of maturity period. Payments will be given after realizing export proceeds from the L/C issuing bank from the abroad. 4.3.2.10. Reporting of Bangladesh Bank: At the end of the every month reporting of Bangladesh Bank is mandatory regarding the whole month export operation, the procedures in this respect is as follows — To fill-up the E-2/P-2 schedule of S-l category. The whole month import amount, quantity, goods category, country, currency, etc. all are mentioned. Respective IMP forms are attached with the schedule to fill E-3/P-3 for all invisible payment. Original IMP is forwarded to Bangladesh Bank with mentioning invoice value Duplicate IMP is skipped with the bank along with the bill of entry. 4.3.2.11. Documentation for Export Purpose: Following major documents are required for export purpose — Commercial invoice Certificate of Origin Bill of lading Quality Control Certificate
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EXP. Form Bill of Exchange Weight List Inspection Certificate L/C copy Other (if required) Packing List 4.3.2.12. Procedure for collection of Export Bill:
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