Transportation-Related Documents Needed to Get Export Incentives

Like readymade garments, other sectors also have to submit documents related to transportation of goods to get an incentive or cash assistance against export.

Those who want incentives against exports in the current fiscal year need to attach five types of documents with their application said a circular of the Foreign Exchange Policy Department of Bangladesh Bank on Monday, reports media.

It said that the documents issued by the freight forwarding company with the letter of credit opened for export should be acceptable to the bank. A freight forwarding company is one through which the export process is completed.

The freight forwarding company must have an updated license and attach a copy of that with the application. The application must contain all information related to the shipping of products.

Before processing the application, the concerned bank will have to confirm the shipment of the export goods in a locally or internationally recognised tracking system. The bank also has to attach the documents of confirmation.

According to the circular, to receive cash assistance or incentives against exports, it is important to ensure that the money against the export is received. For this, the documents related to the specific business relationship of the exporter with the issuer of the export order should be attached.