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GSP & PRC Procedure

GSP Procedure ))) About Info of REX (((
Actually the Generalized System of Preferences (known as GSP for short) is a formal system whereby a wide range of industrial and agricultural products originating in certain developing countries are given preferential access to the markets of the developed country. Actually, GSP is an instrument by which developed nations help the poorer countries foster more trade. The GSP scheme is specifically designed to benefit certain developing countries and integrate them into the world economy. 

It is provides garment manufacturers in Bangladesh with duty-free access to the market of the developed country--subject to certain conditions relating to the origin of the materials used in the manufacture of the garment. Bangladesh is allowed to export nearly 5,000 products duty-free to the United States, which purchases about 25 percent of the country’s $18 billion in annual apparel exports. 
Why essential for GSP ?
Bangladesh has an excellent opportunity to boost exports of garments to the USA and EU countries where demand for
-Low price
-Good quality
-Capacity
-GSP status

Which Reason GSP for Trade
  • With the GSP status, Bangladeshi garment products can enter the market duty free. On the other hand, its absence, it has to pay 12 percent import duties for most products. This status helps decrease the cost per unit of garments, causing the demand to rise.
  • This not only helps the garment industry but also the entire economy.
  • Increased trade means higher export earnings which help promote further industrialization, leading to higher economic growth.
  • Now let us look at a more concrete example. Bangladesh’s apparel exports to the EU made a leap since January 2011 when it allowed GSP for Bangladeshi garments made from imported fabrics. Previously, Bangladesh used to enjoy the GSP benefit only for those garments made from local fabrics.
  • There is a 46 percent rise in apparel exports between a year without and with GSP, indicating the importance of this status in the country’s apparel industry.
  • Without it, the price per unit of garment will rise and this may lead to many European buyers turning their backs on our products.
President Barack Obama has suspended long-time US preferential trade benefits, or GSP status, for Bangladesh in a mostly symbolic response to dangerous conditions in the garment industry that have cost more than 1,200 lives in the past year. 

And recently, Bangladesh runs the risk of losing its GSP facilities in the European Union (EU). 

As a result of losing the GSP facility will cost Bangladesh millions of dollars in taxes as well as will lead to the loss of an essential ingredient in our brew.


Knowing for GSP Tag:

Tag: 01 > Goods Consignee : Export 
Here will type Exporter unite name & address.

Tag: 02 > Goods Consignee : Buyer 
Here will type Buyer unite name & address.

Tag: 03 > Means of Transport and route 
Here will type Mode of Transport , B/L No: & Date, Vessel Name & Container No:

Tag: 04 > For Office Use Only 
Here will be stamp seal which authority by EPB here seal like as ''ISSUED RETROSPECTIVELY''

Tag: 05 > Item Number
Here  will  write name of item such knit, woven sweater etc which minority for type.

Tag: 06 > Marks & Number of Package
Here  will  type shipping marks for clear identify your goods in port or vessel.

Tag: 07 > Number & kinds of packages description of goods
Here  will  type Carton qty, Descriptions of goods, Style No:, Yarn Composition, Category No:, Lc No: & Date, Exp No & Date, BGMEA Reg No & Date Bin/Vat No & Date, Shipping Bill or Bill of Export No & Date.

Tag: 08 > Origin Criterion (See Notes Overleaf)
Here  will  type HS Code

Tag: 09 > Gross Weight or Other Quantity
Here  will  type mark up unit such as ''PCS'' Quantity, In-Words of Quantity.

Tag: 10 > Number & Date of Invoice
Here  will  type Invoice No: & Date.

Tag: 11 > Certification
Its is hereby certified on the basis of control carried out that the declaration by exporter is correct which authorized seal & signature, Date , Emboss  from EBP.

Tag: 12 > Declaration by Exporter
Its is most important part of GSP if you ignore of forget particular issue your GSP will be disqualified. So, carefully mentioned necessary part such as shipper & export country name seal & signature of shipper.

Un-tag : above of GSP Reference No: which declare by Office & here below type Shipper country name by shipper.


Where You Type GSP 
Kawran Bazar Behind of TCB Bhaban.
Now hear showing who GSP type first & fresh those people Name , Mobile & Photo mentioned below for better understanding:-
  1. Name : Md Alamgir Hossain
  2. Cell    : 
------------------------------------------------------------------------------------------
  1. Name : Md Liakat Ali
  2. Cell    : 
-------------------------------------------------------------------------------------------
  1. Name : XYZ
  2. Cell    : 
N:B: Now collecting information Update soonest. 


How to get GSP ?
Here we showing example of Bangladesh. Basicaly you will be get GSP from EBP for some official procedure which flow chart described below for understanding:-

01) GSP Form collect from BGMEA:
If want to get GSP fisrt of all collect GSP form from BGMEA.

02) Type GSP
Carefully type the GSP form by some one. In the mid time check who correctly or not.

03) Checking Type & Online
Carefully checking when you put information on EPB Online database. After getting sure that information is correct then ubload the necessary paper then submit finally. 

04) Documentation Process
You have some documentation procedure to submit GSP to EBP. So, see the below brief fundamental procedure how to submit GSP Documentation. 

  1. Forwarding- Application GSP Issuance.
  2. Forwarding -- Rules for Originality from EPB
  3. If Short Shipment Paper - Photocopy & Original Both
  4. S/B or Bill of Export - Photocopy & Original Both
  5. Invoice - Original on PadBill of Lading - Photocopy  
  6. EXP - Photocopy
  7. UD             - If Without Online GSP
  8. Master LC  - If Without Online GSP 
  9. Note - If Qty when above - 75000 Export qty
  10. Note - If Have any correction or Duplicate GSP collection. 
If you no understand above this issue feel free mail me to get more info -

05) Submit GSP 
Submit GSP mark up country wise desk carefully. 

06) Follow Up for Deskpetch 
After submitting follow GSP until GSP movement desk to desk by country officer. 

07)  Follow Up for Delivery Section
Some time check the delivery section who will be given GSP properly its coming or not.

08)  Release GSP Certificate
When you get GSP at that time carefully take necessary paper for movement of GSP Release.
1. First Page of GSP Certificate
2. Original S/B or (Bill of Export)
3. If Short Shipment Certificate  

PRC Procedure
PRC is most essential part of Customs Audit clearance. Its a short quotation which is abbreviation (PRC=Proceed Realization Certificate). Mainly demand by customs bodn for  ''Demmed Export & Direct Export''  audit purpose.

Type of PRC
1. Direct Export
When if any goods export foreign market for this call ''Direct Export''. Example that seem that buyer - Kleider Sourcing Ltd. & Shipper - Suprov Composite Ltd which shipper export to Kleider.... in Germany.

2. Demmed Export
When if any goods export local market for this call ''Demmed Export''.

How to Submit PRC by customs bond format
PRC Documentation :- If you need PRC thought you will submit PRC step by step. Now I try to described below for Download if necessary for you.

Collect PRC from Bank- > Submit PRC to Customs which App - PRC Format

Audit Purpose.
Application for Audit - Audit Format - Audit Report

Undertaking
Undertaking Format for PRC

:: Please informed us by comment for understanding above issue, if you get more info feel free mail or comment me.

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