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Trade Finance » Export LC
Export LC
General Characteristics
Export LC is extensively used in Foreign Trade to facilitate the smooth conduct of the export business. Banks play the role of intermediaries to get the transaction through, even though the buyer and the seller may not know about each other’s background.

Export LCs clear the uncertainty between the buyer and the seller with the bank undertaking to settle the obligations in time. Export LC in favor of the customer is received by the bank, which advises the LC to the customer. When the customer ships the goods as per LC terms and submits the relevant documents to the bank, the bills are either purchased or sent for collection to the LC issuing bank.

The amounts drawn against Export LCs are endorsed on the back of the original LC.
Facilities offered
Pre Shipment credit in the form of Packing Credit
FBP-Foreign Bills Purchase
FBP-local
Relation to Other Business Processes
Credit
At the request of the customer, pre shipment credit is extended to him in the form of Packing Credit for production and packing expenses.
On submission of export documents, the customer’s bills are purchased by the bank under FBP (Foreign Documentary Bills Purchased)
Local export bills are purchased under FBP-local (Inland Documentary Bills Purchased)
Treasury
Exchange rate & NOSTRO account reconciliation
Interest
Interest is charged on Packing Credit, FBP and FBP local.
Documentation Requirements
Trade License
IRC (Import Registration Certificate)
ERC(Export Registration Certificate)
VAT Registration certificate
TIN
Bonded Warehouse License
Member Certificate issued by BGMEA/BKMEA
Approval of Textile Office
Registration of Export Promotion Bureau
Fire License
Memorandum of Articles of Association and Certificate of Incorporation (Applicable for Limited Company)
Rental contract & letter of Disclaimer from Building owner for rented factory
Application for opening of L/C
Original Export L/C / Contract received from Buyer’s Bank / Buyer
L/C Advising Letter
LCAF including HS Code
IMP
Indemnity(In Prescribed Form)
Proforma Invoice/ Indent
Updated CIB report
One set of charge document including Personal Guarantee of every director/ partner
Cover note of import related products (Money receipt with photocopy of DD/ Pay-order)
Fire Policy of factory
Form XII in case of limited/ Partnership company
Declaration of income tax of previous year
Credit report of the Supplier
NOC from previous Bank(if applicable)
Collateral security documents (if applicable)
Other documents/papers directed by Bangladesh Bank/CCI&E/Related office of Bangladesh Govt.
Charges, Commissions and Fees
Commission Name When applied
LC Advising Charges Advising the LC
LC Transfer fee Transferring the LC
SWIFT charges Advising & Transfer of LC, reminders for export proceeds, opening of LC
Document negotiation charges Negotiating the documents
Postage/DHL charges Sending the documents
Document collection charges Collecting the documents
LC Amendment commission Amendment of LC
LC Cancellation charges Cancellation of LC
Discrepancy Charges Informing discrepancies
Acceptance commission Acceptance of deferred LC
DD/PO commission Local payment
Stationery charges Opening Import LC
IRC renewal fee Renewal of IRC
Other charges Any time
LC opening commission Opening of LC
FCC Opening of LC & amendment
VAT Opening of LC & amendment & Local payment
Source Tax Export proceed realization
Handling charges Export proceed realization
Business Event
Export LC Advising
Export LC Transfer
Export Bill Lodgment
Local Export
Export and Export Proceeds Realization
For any query please Contact at: Tel: (PABX) 9551614 FAX: 880-2-9564009 or e-mail us at gsdd@pubalibankbd.com
Foreign Currency Rates
Currency Buying Selling
USD 81.00 82.50
EURO 86.15 90.80
GBP 99.70 104.70
News & Events

November 08, 2016
A training course on ‘Foundation Training for Senior Officers & Officers’ was held recently under the auspices of Pubali Bank Training Institute.

 

November 03, 2016
Pubali Bank Ltd. holds 4th conference-2016 of Regional and Corporate Branch Managers .

 

November 03, 2016
Pubali Bank Ltd. holds 4th conference-2016 of Regional and Corporate Branch Managers .

 

November 02, 2016
Pubali Bank Limited donates Tk. 20(Twenty) Lac to Dhaka Bar Association .

 

October 27, 2016
Pubali Bank Ltd. organizes Follow up Meeting with the CLS Agents on Consumers Credit Scheme .

 

October 23, 2016
Pubali Bank Ltd. gives bicycle to girls of Monir Ahmed Academy, Sylhet .

 

October 19, 2016
Pubali Bank Ltd. inaugurates its shifted Gulshan Model Town Corporate Branch.

 

March 01, 2015
Pubali Bank Ltd. recommended for 10% Cash Dividend for the year 2014.

 

February 23, 2015
Md. Abdul Halim Chowdhury new Managing Director of Pubali Bank Ltd.

 

February 22,, 2015
1st Managers’conference-2015 of Dhaka South Region of Pubali Bank Ltd. held.

 

All News