Obtain L/C

Case Study

Title: Import of Wheat from India to Bangladesh, 2014

Corridors and Routes: Through Port of Chittagong

Trade Product: Wheat

Trade Type: Import

Process Analysis: Import to Bangladesh

Exporting Country: India

Importing Country: Bangladesh

Category: Goods payment arrangement

Country and Procedure Description: Open L/C
(Import to BGD from IND/Wheat)

Related Rules, Laws and Regulations:

Actors and Participants: - Importer (or representative)
- Bangladesh Bank
- Commercial Bank

Input Criteria to Enter or Begin the Business Process: -The importer has signed proforma invoice and sales contract

Activities and Associated Documentary Requirements: 1. Importer collects L/C opening form from the bank of the importer and prepares documents to open L/C. The documents include L/C opening form, Trade license, TIN certificate, VAT certificate, IRC. 2. The filled up L/C opening form together with the documents is submitted to the bank. 3. The bank decides about whether or not to open L/C. 4. If all the submitted documents are acceptable, the bank opens the L/C and gives a hard copy to th Documents: Proforma Invoice, Sales Contract, Certified copy of Trade license, TIN Certificate, Bank Solvency Certificate, Import Registration Certificate

Output Criteria to Exit the Business Process: - The importer receives the hard copy of L/C from the bank

Activity Diagrams:

Number of Required Documents: 6

Minimum Required Time:

Maximum Required Time:

Average Required Time: 3

Minimum Cost:

Maximum Cost:

Average Cost: USD 19.23