After liberation war it was changed to Uttara Bank. In it issued its share through stock exchange and named as Uttara Bank Limited.
Packing list, certificate of origin, H. With name and address of dealer remittance, l.
The exporter selling on credit may wish to have the promise of payment. This problem is absent in home trade.
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But in foreign trade neither the importer nor the exporter can rely completely upon the others. This method is a compromise between buyer and seller because it affords certain advantage to both parties. Importer does not have to pay until shipment has been made and the documents presented in good order.
While the goods are available after payment, the risk to the exporter is very little, depending on credit term, while the risk to the importer is that he has to rely on the exporter to ship goods described in the documents.
Because of all the protection and benefits it can accords both exporter and importer. He may use his credit lines. In such case he obtains payment immediately upon presentation of documents. If not the documents will be sent to the issuing bank for payment or an approval basis in the next step.
Parties involved in letter of credit The applicant: The issuing bank undertakes an absolute obligation to pay upon presentation of documents. However, the advising bank shall take reasonable care to check the apparent authenticity of the credit that it advises. The confirming bank confirms that the issuing bank has issued a letter of credit.
The confirming directly obligated on the credit to the extent of its confirmation and by confirming it acquires the right and obligation of an issuer.
Typically, the advising bank is nominated as the negotiating bank. The expiry date under the back to back credit is earlier while the latest shipment date may have to be advanced.
The bank issuing back to back credit will obtain repayment through muster credit which is deposited to the issuing bank of the back to back credit. The bank must try to maintain control of the documents and hold them after payment to the supplier pending receipt of its customers invoices and present the documents itself for payment under the muster credit in favor of its customer.
1 day ago · Robin Young, chief executive of Amur Minerals Corporation (), tells Proactive London's Andrew Scott they've set out a strategic plan for the development of the . Uttara Bank Limited is one of the largest private Banks in Bangladesh, The Bank has more than foreign correspondents at world wide, Total number of employee is 3, at present,The Board of Directors consists of 14 members, The Head Office is located at Bank’s own storied building at Motijheel, the commercial center of the capital, Dhaka. View Robin Kumar Singh’s profile on LinkedIn, the world's largest professional community. Robin Kumar has 3 jobs listed on their profile. See the complete profile on LinkedIn and discover Robin Kumar’s connections and jobs at similar companies.
Main business of Foreign exchange department The primary business of foreign exchange department of Dilkusha Branch Banijya Shakha Uttara Bank limited is to make reimbursements and payments on behalf of the issuing bank.
Besides acting as the correspondent bank for reimbursing bank or the payee bank, branch also advice s negotiates, and confirm letter of credits. This Percentage varies depending on the risk of non-payment by the importer. On the other hand branch earns a flat rate fixed commission when it acts as the advising bank as well as when it authorized to make reimbursement on behalf of the issuing bank.
These reimbursements contribute to major portion revenue of foreign exchange department. Dilkusha Branch Banijya Shakha Uttara Bank limited offered a wide services for its relation ships other bank and clients both home and aboard.
Service are related to trade finance, international payment, investment, trading services.Home Essays Internship on Uttara Bank Ltd. Internship on Uttara Bank Ltd.
Topics: Coffee, Starbucks, Brown Pages: 5 ( words) Published: December 8, An Assignment. Uttara Group of Companies is one of the oldest & leading business conglomerates in the automobile industry of Bangladesh. We are looking for two passionate, self-motivated and highly skilled people for the following positions; Position: Chief Executive Officer (CEO), 2W and 3W Business.
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