Import Procedure:
The Export Import of Garments Products is a vital
matter of a Garments company. It increases the opportunity for entrepreneurship
development in garment sector. Thus it helps the unemployed people as well as
the government to remove unemployment problem and also play an important role
in the economic development of the country
(1) Import
License required: Graphics Textiles Ltd has import License will be
necessary for import of any item but it is not needed to import goods.
(2) Import
against LCA From: Unless otherwise specified, all imports transacted
through a bank(L/Cs, bank drafts, remittances etc.) shall require LCA forms
irrespective of the source of finance.
(3)
Import against L/C : Unless otherwise specified, import
shall be made only be opening irrevocable letter of credit (L/C).
Export Procedure:
The importers and exports trade of the country is
regulated by the Imports Exports Control Act 1950. No person /firm is allowed
to export anything from Bangladesh unless he is registered with CCI and E under
the registration order (Importer and Exporter) 1952. To become an exporter an
ERC (export Registration Certificate) must be obtained from the office of CCI
& E.
Procedure for Obtaining Export Registration
Certificate (ERC):
For obtaining Export Registration Certificate (ERC),
intending Bangladesh Exporters are required to apply to the CCI & E
authority in the prescribed from along with the following documents:
- Nationality Certificate.
- Copy of valid Trade License.
- Income Tax Certificate.
- Bank Certificate.
- Copy of rent receipt of the business firm.
- Registered Partnership Deed in case of partnership concerns.
- Memorandum of Articles & Association and Incorporation certificate in Case of Limited Company.
Different Types if Export:
A.
Export under L/C
Exporters are allowed to export the commodity under
irrevocable letter of credit. Under this type of export, exporter will ship the
goods as pr terms of the credit and will get payment as per arrangement of the
credit.
b.
Consignment basis export:
Exports are allowed against firm contract. As per
contract, importer will ship the goods and the buyer will make payment after
selling the consignment.
c.
Export against advancement payment:
Sometimes exporter receives payment in advance. In
that case Authorized Dealer should obtain a declaration from the exporter on
the “Advance receipt voucher” certifying the purpose of the remittance. Then
the exporter will export the goods against the advance payment.