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Freight Forwarders Forex Guide

The document discusses rules for licensed freight forwarders regarding foreign exchange transactions. Freight forwarders can pay carriers in taka for exports if they provide encashment certificates from their AD bank showing repatriated funds. Transactions must go through a single designated AD bank. ADs can also remit profits and fees to counterpart freight forwarders. Freight forwarders must arrange receivables and credits to match between local and foreign counterparts.

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Arup Datta
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5 views1 page

Freight Forwarders Forex Guide

The document discusses rules for licensed freight forwarders regarding foreign exchange transactions. Freight forwarders can pay carriers in taka for exports if they provide encashment certificates from their AD bank showing repatriated funds. Transactions must go through a single designated AD bank. ADs can also remit profits and fees to counterpart freight forwarders. Freight forwarders must arrange receivables and credits to match between local and foreign counterparts.

Uploaded by

Arup Datta
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Download as PDF, TXT or read online on Scribd
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CH 17 180

SECTION- III

FOREIGN EXCHANGE TRANSACTIONS


OF FREIGHT FORWARDERS
4. Multimodal transport agencies named as freight forwarders licenced by Customs Authorities
will adhere to the following instructions in addition to those mentioned in Chapter 10 & Section
VI, Chapter 13, relevant to their operations :

(A) Licenced freight forwarders may pay freight charges to airlines/shipping companies in Taka
in respect of exports made on FOB basis subject to observance of the following terms and
conditions:

(a) Freight forwarders will provide encashment certificates (Appendix-5/96) issued by the
designated AD bank of the concerned freight forwarder to airlines/shipping companies in support
of freight charges recovered from the overseas importer through their counterpart freight
forwarders abroad and repatriated the same to Bangladesh through normal banking channel. ADs
shall issue encashment certificates in support of inward remittances as per Appendix-5/96 and
instructions therein.

(b) Transactions of a licenced freight forwarder shall be channeled through one AD bank branch
designated by it. In case of changing AD bank, the relevant file of licenced freight forwarder
shall be transferred direct to new AD bank branch with immediate intimation to FEOD, Head
office or other concerned offices of Bangladesh Bank.

(B) ADs may, in addition to charges against imports on FOB basis, effect outward remittance on
account of profit share/service charges payable to counterpart freight forwarders.

(C) Licenced freight forwarders shall arrange with their foreign counterpart freight forwarders to
receive their receivables in such a manner so as to match the credit line extended to them by
airlines/shipping companies locally. The same arrangement shall be made with importers for
settlement of charges with counterpart freight forwarders against FOB imports.

(D) Freight forwarders shall, through their designated ADs, report (as per Appendices-5/97, 5/98
& 5/99) their transactions to FEOD, head office/respective area office of Bangladesh Bank by
20th day at the close of the month.

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