Before paying out money against remittances received from abroad, where purpose of the remittance is stated as advance receipt for goods to be exported from Bangladesh, ADs should obtain a declaration from the beneficiary on the 'Advance Receipt Voucher (ARV)', (as per Appendix-6) certifying the purpose of the remittance with report to the 'Online ARV Reporting Module'. ADs shall also comply with following instructions before accommodating the transaction:
(a) The exporter has received irrevocable LC/contract to execute export against advance payment;
(b) The previous export performance of the exporter is satisfactory and the exporter shall have adequate capability to execute the export order;
(c) The payment in advance shall not bear any interest;
(d) Export needs to be executed within a period not exceeding one year from the date of receipt of advance payment. However, this instruction will not be applicable for advance payment received against performance bonds or bank guarantees/standby LCs; and
(e) In case of non-execution of export including issuance of EXP Form against advance payment, ADs may allow refund of advance payment. In this case, ADs shall utilize funds from Exporters' Retention Quota (ERQ) account first and remainder from Taka accounts.
Source: Bangladesh Bank, FEPD-1 Circular No. 26, 30 July 2026, Part A, paragraph 22 (page 15). The original circular is the authority.