Frequently Asked Questions (FAQs)
Question and Answer


Q. Who can extend the validity of LCAF or who can revalidate LCAF?


Answer:

For issuance of LC and shipment, revalidation will be provided by CCI&E.
For remittance, Bangladesh Bank (BB) will revalidate as indicated in Para 3C, Ch 7, GFET. However, approval of BB will not be required for extending validity of LCAF related to import of capital machinery under long term supplier's/ buyer's credit upon approval of Bangladesh Investment Development Authority (BIDA); The approval of BIDA in this regard will suffice.


Reference/ Related Link

FE Circular Letter 30 dated 06 October 2016
Para 8(8) of Import Policy Order, 2015-18
Para 8(9) of Import Policy Order, 2015-18
Chapter 7 Para 3(C), GFET



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