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LCAF Form

LCAF-Letter of Credit Authorization Form. LCAF stands for Letter of Credit Authorization Form. It is mainly application for permission for opening LC as well as importing of goods into Bangladesh and remittance there against.

How many Type of LCAF ?
  1.  Industrial LCAF
  2. Commercial LCAF

How many Copy necessary for LCAF ?
  1. Exchange Control Copy.
  2. Customs Purpose Copy.
  3. Statistical Purpose Copy.
  4. CCI&E Copy.
  5. Bangladesh Bank Registration Copy.
  6. Office Copy.
LCAF
What kinds of Benefit for use LCAF ?

  1. Fist of all LCAF necessary for commission received. Little import for costing lot of commission, so, for this cause LCAF used without LC.
  2. The LCAF is used to import essential items and fast perishable goods.
  3. Any importer can import the product by using LCAF up to USD 100,000 per year.
  4. Products can be imported by using the LCAF with the help of machinery and production raw material.
  5. Import of LCAF products is comparatively less than the VAT of LC VAT.
However, note that LCAF's payment security is less than LC's payment security.

To import LCAF products, apply to the bank by adding two forms with LCAF. Click on the form to get the form two.





See Chapter 7
Para 18

APP. 5
9










DECLARATION FOR IMPORT UNDER LCAF REGISTRATION



INFORMATION ABOUT IMPORT WITHOUT LC




1.
LCAF issuing bank
................................. branch
.............................. for import without LC
2.
LCAF No. ...........................
, Date.............................
, Value.................................................


3.       Name of the goods according to Purchase Contract/Purchase Order.....................................

HS Code Number ...................................................................................................................

4.
Value of Import Consignment  ..............................................
Quantity ................................
5.
Expected date of shipment....................................
Port of Loading .......................................
6.
Expected arrival date at Bangladeshi Port .............................................................................
7.
Condition for payment of Import Bill: DP/DA for
.........days from presentation/acceptance





Name and signature of the authorised person of the AD with date




Name and signature of the authorised person of the importer

See Chapter 7
Para 27(i)

APP. 5
10










BANGLADESH BANK



FOREIGN EXCHANGE POLICY DEPARTMENT



FORM OF UNDERTAKING



(To be furnished by the importer for making advance remittances for permissible imports of goods and services).

In  consideration  of  Bangladesh  Bank  permitting
me/us  an  advance  remittance  of
........................................to..........................................................
I/we hereby  undertake that the

amount so remitted by me/us will be used solely for the purpose of payment for the goods/services described below to be imported into Bangladesh from ....................................in

accordance with the regulations in force regarding such imports. I/We declare that the goods/services will be imported by me/us on or about ............................. and I/we undertake to

produce to the Bangladesh Bank documentary evidence in respect of goods/services so imported including the authenticated copy of the Customs Bill of Entry for goods and supplier's invoice in original. I/We further declare that the amount paid by me/us in advance will be deducted from the invoice value of the goods (CFR)/services imported and that the deduction will be shown on the invoice.


Name and address
Invoice Value
Description
Country of
Particulars of
of the supplier




origin
L.C. Authorisa-







tion Form









Goods
Services
Goods
Services
Goods
Services
Goods
Services






















Signature and Stamp of the Importer


Name of the Importer

Address

Registration Number with CCI & E


Date .......................................
Signature and Stamp of the


Authorised Dealer

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