It covers payment methods and information on, banking systems, foreign exchange controls, and U.S. and correspondent banking.
Methods of Payment
Unless the importer is a multinational company operating in Bangladesh or a reliable, long-standing Bangladeshi customer, the Embassy recommends all U.S. exporters require their local buyers to present irrevocable, confirmed letters of credit to secure payment, preferably from a U.S. bank, whether the importer is a private firm or part of the government and whether a multilateral institution or bilateral donor agency or government is financing the importer. U.S. exporters should also be aware that it is a normal business practice for government procurement agencies to require exporters to post performance bonds, which can be arranged with a bank operating in Bangladesh, including several international banks.
For more information about the methods of payment or other trade finance options, please read the Trade Finance Guide.
Additional information regarding banking systems is available in the “Financial Sector” sub-section of the Investment Climate Statement.
Foreign Exchange Controls
Additional information regarding foreign exchange controls is available in the “Financial Sector” sub-section of the Investment Climate Statement.
U.S. Banks & Local Correspondent Banks
Scheduled banks have arrangements with U.S. correspondent banks for their U.S. dollar clearing requirements.