4.3 RETIREMENT OF DOCUMENTS

On receipt of the copy of lodgment voucher from the bank, the importer will deposit the required amount and taka delivery of the shipping documents. This stage is known as Retirement of Impart Bills.

Before retirement of impart bills, the L/C opening bank will calculate the charges which are to be realized from the importer.

Retirement vouchers to be prepared :
Dr. Opener A/C
Dr. Sunday Deposit A/C (Margin on L/C)
Cr. PAD / Draft Amount
Any other charges vouchers if necessary.

4.4 SCRUTINY OF DOCUMENTS

The L/C opening bank being received the documents from the negotiated bank will scrutinize the documents with the respective L/C terms and condition.

i) Forwarding schedule of Negotiating Bank

- Whether there is any instruction.
- Whether these instruction can be complied with.
- whether the negotiating commission realised.

ii) Bill of Exchange (Draft)
- Whether it is drawn in order.
- Whether the amount of draft corresponds with the L/C amount.
- Draft amount should be equal or less than the L/C amount.
- whether the date of the draft of the within the date as per L/C etc.

iii) Bill of Lading (B/L)
- Whether the B/L is clean i.e. there is no clause like some cartons are broken or any other clause.
- Whether there is signature of shipping Authority.
- Whether the date of B/L is within the date of shipment as per L/C.
- Whether the freight is prepared or not as per L/C terms.
- Whether the part of shipment and part of destination are similar as per L/C.
- Whether the title of B/L belongs to L/C opening bank.

- Whether the full sets of B/L dispatched by negotiating bank etc.

iv) Commercial Invoice
- Whether the full particulars of goods have been incorporated.
- Whether the amount of invoice corresponds with the amount of Bill of Exchange and as per the L/C terms.
- Whether IRC No. LCA No etc. have been incorporated.
- Whether it is signed by the beneficiary.

v) Other Documents
- Whether all other documents are prepared as per L/C.

After scrutinization, the official concerned may found the following :-
i) Documents are in order i.e. no discrepancy.
ii) Minor discrepancy-Acceptable to the importer.
iii) Major discrepancy-May be acceptable to the Regulation or those are irremovable.

After performing necessary formalities & entry in respective registers documents to be handed over to theimporter on proper acknowledgement after certification and endorsement of the documents.

4.5 MONTHLY RETURN
On the last working day of the month returns of bills lodged during the month through IMP From to be sent to Foreign Exchange Department, Bangladesh Bank.

4.6 DISPOSAL OF IMP FORM

Original = From L/C opening bank to Bangladesh Bank after lodgemtn of documents.

Duplicate = To be filled by the L/C opening bank with exchange control copy of Bill of Entry submitted by the importer after clearance of the goods from the customs authority.

Triplicate = Office copy of L/C opening bank.

Quadruplicate = From L/C opening to Bangladesh Bank if the importer does retire the documents.