The EXP declaration, the four-month rule, the exports that are exempt, and who is responsible.
Imagine lending your bicycle to a friend. You don't mind, as long as it comes back. Bangladesh lets its goods leave the country on the same deal: the money must come back, in full and on time.
Every export rule you'll ever learn grows from this single promise. This lesson shows how the promise is made, how long the exporter has, who is excused, and what the bank must check before saying yes.
Since 1948, the law has said: no goods may leave Bangladesh unless the exporter first makes a declaration to Customs (or another authority Bangladesh Bank names). In that declaration the exporter confirms that the full value of the goods has been, or will be, brought back in the way and within the time Bangladesh Bank sets.
It is old law, but it is the root of the whole system.
Why does Customs care about money? Because the goods leaving the port are the country's earnings walking out the door. The declaration is the exporter's signature on the promise: "I will bring the value back."
Government Notifications No. 1(6)/ECS/48 and 1(7)/ECS/48 dated July 01, 1948 issued pursuant to Section 12 of the FER Act, 1947 prohibit export of any goods directly or indirectly to any place outside Bangladesh, unless a declaration is furnished by the exporter to the Customs Authority or to such other authority as specified by Bangladesh Bank. The declaration must confirm that the full export value of the goods has been, or will be, disposed of in accordance with the manner and within the time frame specified by Bangladesh Bank.
Source: Bangladesh Bank, FEPD-1 Circular No. 26, 30 July 2026, Part A, paragraph 5 (page 8). The original circular is the authority.
The declaration is made on the EXP form. Two things to remember:
An exporter says, "The invoice is USD 50,000, but I pay my agent USD 2,000, so write USD 48,000 on the EXP." Nusrat says no. The EXP shows USD 50,000. The commission is dealt with under the commission rules, not by shrinking the declared value.
All exports unless otherwise exempted must be declared on the EXP Form (as per Appendix-1). ADs are advised to guide their exporters to declare the full invoice value of goods on EXP form without adjustments of foreign agent commission or other trade charges. On the Form, exporters shall undertake to repatriate full export proceeds within the period specified by Bangladesh Bank in terms of the FER Act, 1947.
Source: Bangladesh Bank, FEPD-1 Circular No. 26, 30 July 2026, Part A, paragraph 6 (page 8). The original circular is the authority.
Some things leave the country without an EXP form or a repatriation promise, because no real sale is involved:
Customs decides whether a shipment really qualifies.
A garment factory sends five sample shirts to a buyer in Spain. No EXP needed: they are bona fide samples. But if "samples" become 5,000 shirts, they are no longer samples, and Customs will say so.
The regulations mentioned above do not apply to the export of:
(a) Bonafide trade samples as per Export Policy in force;
(b) Personal effects of travelers whether accompanied or unaccompanied;
(c) Ships stores and transhipment cargo;
(d) Goods shipped under the orders of the Government of Bangladesh, or any officers designated by the Government or by the Military, Naval, or Air Force authorities in Bangladesh for their respective requirements;
(e) Gift packets accompanied by a declaration from the sender confirming that the contents' value is below the Export Policy limit in force and no foreign exchange transaction is involved; and
(f) Where the packet is covered by a certificate issued by Bangladesh Bank to the effect that the export of the parcel does not involve any transaction in foreign exchange.
Exemptions as above will be allowed by the customs authorities after being satisfied that the relative exports qualify for such exemptions.
Source: Bangladesh Bank, FEPD-1 Circular No. 26, 30 July 2026, Part A, paragraph 7 (page 8). The original circular is the authority.
How long does the exporter have? Four months from shipment to bring the full proceeds home. Miss it without Bangladesh Bank's permission, and the exporter can face action under the FER Act.
There is one longer window: for raw jute and jute goods, up to 360 days, against an irrevocable confirmed LC or on open account (details in Part D). When exports are on usance (credit) terms, banks must look extra carefully: is the price internationally competitive, and is the interest added in line with market rates for that currency?
Goods ship on 10 January. The four months run to 10 May. If the money arrives on 20 May without permission, the file is overdue. Think of it like a library book. Returning it late is still late, even if you return it.
(1) The prescribed period for repatriating export proceeds is four months (vide Bangladesh Bank Notification No. FE 1/77-BB dated April 16, 1977). If the full proceeds of any shipment are not received within this period, without special or general authorization from Bangladesh Bank, exporters will be subject to action under the FER Act, 1947.
(2) In respect of export of raw jute and jute goods, the repatriation period may be upto 360 days against irrevocable confirmed LC or under open account as outlined in Part-D of this circular. ADs shall conduct extended due diligence while executing export under usance terms, including satisfying themselves to the effect that export price quoted is internationally competitive and that the usance interest loaded is at a rate commensurate with the prevailing interest rate in the concerned currency.
Source: Bangladesh Bank, FEPD-1 Circular No. 26, 30 July 2026, Part A, paragraph 8 (page 9). The original circular is the authority.
Before a bank handles an export, it must be satisfied of three things:
The bank must report to Bangladesh Bank if it doubts the buyer, suspects collusion to delay payment, or learns that the exporter has an interest in the buyer.
If money comes late or short, the exporter must explain why, and the bank sends that explanation to Bangladesh Bank. And if the delay happened because the bank broke the rules, the bank and its officials can also face action.
A first-time buyer in a far-off country wants goods on 90-day DA terms. The exporter's cousin is a director of that buyer. Before anything else, the bank checks the buyer through its correspondent and reports the family connection to Bangladesh Bank.
(1) Before execution of export transactions, ADs shall satisfy themselves with regard to the followings:
(a) Arrangements have been made for realization of export proceeds within the prescribed period;
(b) Arrangements have been made for receipt of title to goods like Bill of Lading, Airway Bill, etc. by ADs on shipment of the underlying goods; and
(c) ADs shall justify bonafide of buyers/consignees abroad and their credentials etc. where necessary, ADs should make discreet inquiries in this regard through its correspondents abroad etc., greater care should be taken particularly in cases of shipments against contract alone and shipments on CAD/DA basis. ADs should report promptly to Bangladesh Bank, where ADs doubt the bonafides and standing of the buyers/consignees abroad or where owing to common interest or otherwise they suspect collusion with the intent of delaying or avoiding repatriation of export proceeds. Similarly, ADs should report to Bangladesh Bank cases where it comes to their knowledge that exporters are directly or indirectly connected with or have any financial or other interest in the buyer/consignee abroad. If necessary, discreet enquiry about the bonafides and credentials of the charter party should also be made, if shipment is to be made against a charter party Bill of Lading.
(2) For delay in repatriation or non-realization of export proceeds, exporters will render themselves liable to punitive action under the FER Act, 1947. Besides, in the event of non-realization or short realization of export proceeds against shipment within the stipulated period, ADs shall obtain from the exporters and furnish to Bangladesh Bank full explanation as to the circumstances resulting in non-realization/short realization. Therefore, in their own interest, both exporters and ADs should be alert and active in ensuring timely repatriation of export proceeds.
(3) ADs are responsible for meticulously complying with relevant regulatory instructions while processing export transactions. In the event of delay in realization or non-realization/short realization of export proceeds due to non-compliance of the regulatory instructions, ADs and their respective officials will be held liable to punitive action under the FER Act, 1947.
Source: Bangladesh Bank, FEPD-1 Circular No. 26, 30 July 2026, Part A, paragraph 13 (page 10). The original circular is the authority.
The promise is now clear: declare the full value on the EXP form, bring the money home within four months (360 days for jute), and let the bank check the buyer first. Next lesson: how the money is allowed to come in, and how much the exporter may keep in dollars.
Four quick questions. Nobody sees your answers but you.
A-8: the prescribed period is four months.
A-8(2): jute exports may run up to 360 days against irrevocable confirmed LC or open account, as in Part D.
A-6: declare the full invoice value without adjusting for commission or other charges.
A-13(1)(c): banks should report cases where exporters are connected with or have an interest in the buyer abroad.
Anonymous. It only adds one to a count, so we know who the lessons are helping. We never learn who you are.
Brain feeling full? Take a tea break.