Application of appropriate Incoterms in respect of foreign trade.
Attention of Authorized Dealers (ADs) is invited to the Incoterms 2000, published by the International Chamber of Commerce (ICC).
- Generally export from and import into Bangladesh is conducted on FOB and CFR basis. Henceforth, exports from Bangladesh may, in addition to FOB and CFR basis be made on EXW, FCA, FAS, CIF, CPT, CIP and DAF basis provided those are stipulated in the relevant Letters of Credit (LCs) or sales contracts. ADs are, however, strongly advised to inform the exporters about the risk and responsibility involved in such cases. While certifying the EXP Forms the ADs must show the FOB or its equivalent value and cost of freight, insurance and other charges separately on the reverse of the related EXP Forms.
- Appropriate Incoterms should also be incorporated in the purchase contract/LC in case of import into Bangladesh in compliance with the Import Policy Order in force.
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