(1) Import Licence not required: No import Licence will be necessary for import of any item.
(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 by opening irrevocable letter of credit (L/C).
However, L/C is not required for import of each consignment, by road, of easily perishable item bolded from US$ five thousand to Seven thousand five hundred and for import of capital machinery & raw materials for industrial use without any price limit. Existing conditions regarding import on deferred payment under L/C shall be applicable in this case also and importers shall be required to register with Bangladesh Bank for importation without L/C.
(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 by opening irrevocable letter of credit (L/C).
However, L/C is not required for import of each consignment, by road, of easily perishable item bolded from US$ five thousand to Seven thousand five hundred and for import of capital machinery & raw materials for industrial use without any price limit. Existing conditions regarding import on deferred payment under L/C shall be applicable in this case also and importers shall be required to register with Bangladesh Bank for importation without L/C.
(4) Import against LCA Form but without opening of Letter of Credit (L/C) : Import against LCA Form may be allowed without opening of letters of credit in the following cases : (a) Import of books, journals, magazines and periodicals on sight draft or usance bill basis; (b) Import of any permissible item for an amount not exceeding US Dollar Five thousand only during each financial year against remittance made from Bangladesh. However, permissible item valued upto US Dollar five thousand in a single consignment from Myanmar shall be importable without opening L/C and in that case above mentioned annual ceiling of US Dollar five thousand shall not be applicable. (c) Import under commodity aid, grant or such other loan for which there are specific procurement procedures for import of goods without opening any L/C; |  |
(d) Import of "International Chemical References" through Bank drafts by recognized pharmaceutical (allopathic) industry on the approval of Director, Drugs Administrators for the purpose of quality control of their products.
(5) Import against Import Permits and in special cases against Clearance Permit (for clearance of goods on payment of fine) : In the following cases, neither LCA Form non opening of L/C will be necessary; but Import Permit (IP) or Clearance Permit (CP) will have to be obtained by the importer for : (a) Import of books, magazines, journals, periodicals and scientific and laboratory equipment against surrender of UNESCO Coupons;
(b) Import under Pay-As-You-Learn-Scheme in the following cases only on the basis of clearance of the Bangladesh Bank:
(i) New or not exceeding twelve years old plant and machinery of permissible specification;
(5) Import against Import Permits and in special cases against Clearance Permit (for clearance of goods on payment of fine) : In the following cases, neither LCA Form non opening of L/C will be necessary; but Import Permit (IP) or Clearance Permit (CP) will have to be obtained by the importer for : (a) Import of books, magazines, journals, periodicals and scientific and laboratory equipment against surrender of UNESCO Coupons;
(b) Import under Pay-As-You-Learn-Scheme in the following cases only on the basis of clearance of the Bangladesh Bank:
(i) New or not exceeding twelve years old plant and machinery of permissible specification;
(ii) New or not exceeding five years old motor cars; (iii) Cargo or passenger vessel of steel or wooden bodies, including refrigerated vessel of any capacity either new or not exceeding fifteen years old; but in case of ocean going ships, old ship, not exceeding twenty years old shall be importable; (iv) Import of plant and machinery for export-oriented industrial units with the clearance of the competent sanctioning authority, wherever necessary; and (v) Trawlers and other fishing vessels, either new or not exceeding twenty years old: For import under this scheme the sanctioning authority of such import shall forward a copy of sanction letter to the Chief Controller and the importers shall apply to the CCI & E along with necessary paper for prior permission. |  |
(c) Import of item (s) by passengers coming from abroad in excess of the permissible limits as per the relevant baggage rules, provided the import of the item(s) concerned is permissible under the relevant baggage rules;
(d) Import of free samples, advertising materials and gift items above the ceiling prescribed as per paragraph 13 of this Order;
(e) Import of only drugs and medicines (allopathic) under product bonus system subject to the condition that it shall be obligatory on the part of the importers concerned to pass on the benefit to the consumers. The Director, Drugs Administration shall devise appropriate mechanism in this behalf;
(f) Import of capital machinery as share of capital of the foreign share-holder for an approved joint venture industrial unit already set up or to be set up;
(g) Import of any other goods, not specifically exempted from permit.
(6) Import on Deferred Payment Basis or Against Supplier's Credit: Subject to restriction and prohibitions contained in this order, import on differed payment basis or against Suppliers, Credit may be allowed on the basis of procedure laid down by the Bangladesh Bank in this behalf.
(7) Import against direct payment abroad: Only Bangladeshi nationals living abroad may send any importable item irrespective of value ceiling against direct payment abroad in the name of any Bangladeshi living in Bangladesh . The name and address of the consignee shall be mentioned in the import documents. For such import, no permission or import permit from the Import Control Authority shall be necessary.
(8) Time limit for opening of L/C : Unless otherwise specified, for import under cash foreign exchange, letter of credit shall be opened by all importers within one hundred and fifty days from the date of its issue or from the date of its registration. The above time limit may be extended up to such time as deemed fit by the Chief Controller. For import under foreign aid/grant and barter/STA. L/C shall be opened within the time limit as may be notified by the Chief Controller. (9) Validity of LCA for shipment :
(a) Unless, otherwise specified, shipment of goods shall be made within seventeen months in the case of machinery and spare parts and nine months in the case of all other items from the date of issuance of LCA From by bank or registration of L/C Authorization Form with Bangladesh Band Registration unit, as the case may be, Shipment of goods under commodity aid/grant, and barter/STA shall be effected within the time limits as may be notified by the Chief Controller;
(b) In case where shipment could not made within the validity of the LCA Form due to circumstances beyond the control of the importer, the Chief Controller may extend the time limit for shipment of goods on the merit of each case;
(10) Restriction on L/C after imposition of ban/restriction: No extension of the date of shipment in any letter of credit or amendment to letter of credit or enhancement of the value or quantity of goods shall be allowed by the nominated bank or by the Import Control Authority after the import of the item or items has been banned or restricted;
(11) Document required to be submitted along with LCA Form: Importer in both public sector and private sector shall submit to their nominated banks the following documents along with the L/C Authorization Form for opening Letter of Credit:
(a) L/C application form duly signed by the importer;
(b) Indents for goods issued by indentor or a proforma invoice obtained from the foreign supplier, as the case may be; and
(c) Insurance cover note.
(12) Addition documents to be furnished by public sector importers: In addition to the documents mentioned in sub-paragraph (11) above public sector importers shall submit the attested photocopy of sanction letter from the Administrative Ministry or Division or Authority, wherever applicable; ]
(13) Additional documents to be furnished by private sector importers: In addition to the documents, mentioned in sub-paragraph (11) above private sector importers will be required to submit the following documents-
(a) valid membership certificate from the registered local Chamber of Commerce and Industry or any Trade Association, established on all Bangladesh basis, representing any special trade/business;
(b) proof of payment of renewal fees for the Import Registration Certificate for the concerned financial year;
(c) a declaration, in triplicate, that the importer has paid income-tax or submitted income-tax return for the preceding year;
(d) proof of having Tax Identification Number (TIN) in all cases of import excepting personal use;
(e) insurance cover note either from Shadaran Bima Corporation or from Bangladeshi Insurance Company and stamped insurance policy against this cover-note;
(f) any such documents as may be required as per this Order or Public Notice, or instruction issued by Chief Controller, from time to time under this Order;
(14) Violation of the requirement of LCA/LC: Shipment effected before authentication of the L/C Authorization Form by the nominated bank and registration with the Bangladesh Bank, wherever necessary, and before opening of L/C or after expiry of the validity of the L/C Authorization Form or L/C shall be treated as import in contravention of this Order. L/C Authorization Form obtained on the basis of false or incorrect particulars or by adopting any fraudulent means shall be treated as invalid and void abinitio.
(15) Import against indent and proforma invoice: L/C may be opened against an indent issued by a local registered indentor or against a proforma invoice issued by a foreign manufacturer/seller/supplier.
(d) Import of free samples, advertising materials and gift items above the ceiling prescribed as per paragraph 13 of this Order;
(e) Import of only drugs and medicines (allopathic) under product bonus system subject to the condition that it shall be obligatory on the part of the importers concerned to pass on the benefit to the consumers. The Director, Drugs Administration shall devise appropriate mechanism in this behalf;
(f) Import of capital machinery as share of capital of the foreign share-holder for an approved joint venture industrial unit already set up or to be set up;
(g) Import of any other goods, not specifically exempted from permit.
(6) Import on Deferred Payment Basis or Against Supplier's Credit: Subject to restriction and prohibitions contained in this order, import on differed payment basis or against Suppliers, Credit may be allowed on the basis of procedure laid down by the Bangladesh Bank in this behalf.
(7) Import against direct payment abroad: Only Bangladeshi nationals living abroad may send any importable item irrespective of value ceiling against direct payment abroad in the name of any Bangladeshi living in Bangladesh . The name and address of the consignee shall be mentioned in the import documents. For such import, no permission or import permit from the Import Control Authority shall be necessary.
(8) Time limit for opening of L/C : Unless otherwise specified, for import under cash foreign exchange, letter of credit shall be opened by all importers within one hundred and fifty days from the date of its issue or from the date of its registration. The above time limit may be extended up to such time as deemed fit by the Chief Controller. For import under foreign aid/grant and barter/STA. L/C shall be opened within the time limit as may be notified by the Chief Controller. (9) Validity of LCA for shipment :
(a) Unless, otherwise specified, shipment of goods shall be made within seventeen months in the case of machinery and spare parts and nine months in the case of all other items from the date of issuance of LCA From by bank or registration of L/C Authorization Form with Bangladesh Band Registration unit, as the case may be, Shipment of goods under commodity aid/grant, and barter/STA shall be effected within the time limits as may be notified by the Chief Controller;
(b) In case where shipment could not made within the validity of the LCA Form due to circumstances beyond the control of the importer, the Chief Controller may extend the time limit for shipment of goods on the merit of each case;
(10) Restriction on L/C after imposition of ban/restriction: No extension of the date of shipment in any letter of credit or amendment to letter of credit or enhancement of the value or quantity of goods shall be allowed by the nominated bank or by the Import Control Authority after the import of the item or items has been banned or restricted;
(11) Document required to be submitted along with LCA Form: Importer in both public sector and private sector shall submit to their nominated banks the following documents along with the L/C Authorization Form for opening Letter of Credit:
(a) L/C application form duly signed by the importer;
(b) Indents for goods issued by indentor or a proforma invoice obtained from the foreign supplier, as the case may be; and
(c) Insurance cover note.
(12) Addition documents to be furnished by public sector importers: In addition to the documents mentioned in sub-paragraph (11) above public sector importers shall submit the attested photocopy of sanction letter from the Administrative Ministry or Division or Authority, wherever applicable; ]
(13) Additional documents to be furnished by private sector importers: In addition to the documents, mentioned in sub-paragraph (11) above private sector importers will be required to submit the following documents-
(a) valid membership certificate from the registered local Chamber of Commerce and Industry or any Trade Association, established on all Bangladesh basis, representing any special trade/business;
(b) proof of payment of renewal fees for the Import Registration Certificate for the concerned financial year;
(c) a declaration, in triplicate, that the importer has paid income-tax or submitted income-tax return for the preceding year;
(d) proof of having Tax Identification Number (TIN) in all cases of import excepting personal use;
(e) insurance cover note either from Shadaran Bima Corporation or from Bangladeshi Insurance Company and stamped insurance policy against this cover-note;
(f) any such documents as may be required as per this Order or Public Notice, or instruction issued by Chief Controller, from time to time under this Order;
(14) Violation of the requirement of LCA/LC: Shipment effected before authentication of the L/C Authorization Form by the nominated bank and registration with the Bangladesh Bank, wherever necessary, and before opening of L/C or after expiry of the validity of the L/C Authorization Form or L/C shall be treated as import in contravention of this Order. L/C Authorization Form obtained on the basis of false or incorrect particulars or by adopting any fraudulent means shall be treated as invalid and void abinitio.
(15) Import against indent and proforma invoice: L/C may be opened against an indent issued by a local registered indentor or against a proforma invoice issued by a foreign manufacturer/seller/supplier.
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