Lesson 13 of 39 · Part B · Level 2 · Explained
The IMP form and the Bill of Entry clock
Every import payment goes on an IMP form. Once the money leaves, a four-month clock starts for the Bill of Entry. When it starts, what counts as proof, and what to do if the ship is late.
In Lesson 12, Paying in advance, Rakib learned when the bank may send money before the goods are even shipped. Today a happier file sits on Rakib's desk. Lamia's pharmaceutical raw materials have been paid for in full, and the supplier has said thank you.
"Done!" says Rakib, and reaches for the file cabinet.
Sadia laughs. "Done? Rakib, the money has left Bangladesh. Now we need proof that the goods arrived. Think of it like sending your cousin to the market with a thousand Taka. You don't relax when he leaves the house. You relax when he comes back with the fish."
This lesson is about that proof. Every import payment is asked for on an IMP form. And, in most cases from the moment the money goes out, a four-month clock starts ticking for the Bill of Entry.
Application for remittance on IMP Form
In plain words
You met the IMP form in Part A (Lesson 4, The IMP form). It holds the importer's promises. This paragraph says when it is used and who handles it.
1. Private imports. Every application to pay for an import into Bangladesh must be made on an IMP form. This includes imports from the specialised zones: EPZs, PEPZs, EZs and HTPs. So a factory in Chattogram buying from an EPZ factory down the road still fills in an IMP form.
- Who submits it: the importer, or the importer's duly authorised representative.
- Who approves it: where the AD is empowered to approve the payment on Bangladesh Bank's behalf, it writes its approval on the reverse of the IMP form, in the space provided.
- In other cases, the AD sends the IMP form, with the required supporting documents, to Bangladesh Bank for approval. This paragraph does not list which cases the AD may approve itself; that depends on the rest of the circular.
2. Government imports. When the import is in the name of a government department or office, and the AD opened the LC, the AD marks the IMP form with a bold letter "G". One big letter, and everyone who picks up the form knows at once that it is a government import.
At the desk
A government hospital's equipment LC was opened at Sadia's branch, and the payment is now due. Rakib fills in the IMP form neatly but forgets the mark. Sadia hands him a thick marker. "Bold G, please. A government import should be obvious from across the room." Since this is a case the branch may approve itself, Rakib then signs the approval on the back of the form, in the space provided.
Key words
- IMP form
- The import payment declaration form (Appendix-1). Every import payment needs one.
- Duly authorised representative
- A person the importer has properly authorised to act on the importer's behalf.
Read the rule as written (Para B-13)
(1) IMP Form for private imports: All applications for payments against imports into Bangladesh (including imports from EPZs/PEPZs/EZs/HTPs) should be made on IMP forms. The IMP forms must be submitted by the importer or his duly authorized representative. In cases where empowered to approve the remittances on behalf of Bangladesh Bank, ADs shall endorse its approval on the reverse of the IMP form in the space provided for the purpose. In other cases, ADs shall submit the IMP form together with required supporting documents to Bangladesh Bank for approval.
(2) IMP Form for Government imports: ADs should mark with a bold letter "G" the IMP form for remittance against an import in the name of a Government department or office for which LCs are opened by ADs.
Source: Bangladesh Bank, FEPD-1 Circular No. 30, 13 August 2026, Part B, paragraph 13 (page 15). The original circular is the authority.
Submission of the authenticated copies of 'Bill of Entry' and 'Certified Invoices'
In plain words
Now the clock. Once money leaves for an import, the importer must prove the goods came in. The proof, and the day the clock starts, depend on how the goods came and how they were paid for.
1. The normal rule. In all cases of payment for imports into Bangladesh, the importer must give the bank the authenticated copy of the customs Bill of Entry within 4 months from the date of the remittance. (Part A's IMP form promise, A-8, counts four months from applying for payment; B-14 counts from the date of remittance. The two paragraphs use different starting points.)
2. Post or courier. For an import by post or courier, the importer submits the invoice certified by the Customs Authority instead.
3. Very small parcels. If a post or courier import is worth less than GBP 5 or its equivalent in another foreign currency, Customs issues a certificate instead of certifying the invoice. The importer may submit that certificate in place of the certified invoice.
4. Supplier's credit (usance/DA). Here the importer pays later, so the payment date can be months away. The four months are counted from the date of acceptance of the import documents, not from the payment.
5. Buyer's credit or external credit. Here a foreign lender pays the supplier. The documentary evidence of the import is due within four months of the payment by the foreign lenders.
A quick way to remember it: the clock usually starts when the money goes out. For usance/DA, it starts when the documents are accepted. For a foreign loan, it starts when the lender pays.
At the desk
Tahmid buys a machine from his new overseas supplier on DA terms and accepts the documents on 5 May. Payment is due in November. Rakib writes "BoE due: 4 months from 10 November" on the file. Sadia crosses it out. "For DA, the four months run from acceptance, Rakib. Count from 5 May, or we'll be chasing the Bill of Entry six months late."
Key words
- Bill of Entry
- The importer's declaration of the imported goods to Customs. Once Customs certifies it, it proves the goods were cleared.
- Customs-certified invoice
- An invoice that Customs has certified. For imports by post or courier, it is submitted instead of the Bill of Entry.
- Supplier's credit
- The foreign supplier lets the importer pay later, for example on usance or DA terms.
- Buyer's credit
- Finance from a foreign lender, who pays the supplier on the importer's behalf; the importer repays the lender later.
Read the rule as written (Para B-14)
(1) Time for submission from date of remittance: In all cases of remittances for imports into Bangladesh, the importer must submit within 4 months from the dates of remittances the relevant authenticated copy of the customs bill of entry. In case of import by post/courier, the importer must submit the invoice certified by the Customs Authority in lieu of the authenticated copy of the bill of entry. Where the value of an import by post/courier is less than GBP 5 or its equivalent in other foreign currency, the customs authority will issue a certificate instead of certifying the invoices. In such cases, the certificate may be submitted in place of the certified invoices.
(2) Bill of entry against import on supplier’s credit (usance/DA) term: In case of import on supplier’s credit (usance/DA) term, the prescribed period of four month for submission of bill of entry will be calculated from the date of acceptance of import documents.
(3) Bill of entry against import on buyer’s credit/external credit: In case of import under buyer’s credit/external credit, submission of documentary evidence in support of imports will also be four months of payment by foreign lenders.
Source: Bangladesh Bank, FEPD-1 Circular No. 30, 13 August 2026, Part B, paragraph 14 (page 15). The original circular is the authority.
Extension of time limit for submission of bill of entry etc
In plain words
Sometimes life gets in the way. A storm holds the ship at sea, or the goods sit at the port while a clearing problem is sorted out. Four months can pass with nobody at fault.
For genuine difficulties like these, an application can be made to extend the time limit beyond four months. The circular gives two examples:
- a delay in the arrival of the ship;
- difficulties in clearing goods already landed at a port in Bangladesh.
The word "etc." in the circular shows these are examples, not a complete list. But the difficulty must be genuine. "I forgot" will not do.
The application is forwarded to Bangladesh Bank: the Foreign Exchange Operation Department (FEOD), at Head Office or other offices. It must clearly mention:
- the IMP Form No.; and
- the LC/Contract no., as reported to OIMS.
Bangladesh Bank then considers it. So an extension is a request, not a right. The circular does not set out how long an extension may be.
At the desk
Lamia's second consignment is stuck on a ship held at a foreign port for weeks, and the four months will run out before it docks. Rakib drafts the extension request with a long, sad story about the weather. Sadia reads it and smiles. "Lovely story. Now add the IMP Form No. and the LC number exactly as we reported them to OIMS. That's how Bangladesh Bank finds the file." The request then goes to FEOD for consideration.
Key words
- Overdue Bill of Entry
- A Bill of Entry that the importer should have given the bank by now, but hasn't.
- FEOD
- Foreign Exchange Operation Department of Bangladesh Bank. It considers requests such as extensions of the Bill of Entry time limit.
- OIMS
- Online Import Monitoring System.
Read the rule as written (Para B-15)
Applications for extension of the time limit beyond four months in cases of genuine difficulties, such as delay in the arrival of the ship or difficulties in clearing the goods already landed at a port in Bangladesh etc. shall have to be forwarded to Bangladesh Bank (Foreign Exchange Operation Department (FEOD), Head Office or other offices) for consideration mentioning clearly the concerned IMP Form No. & LC/Contract no. (as reported to the OIMS).
Source: Bangladesh Bank, FEPD-1 Circular No. 30, 13 August 2026, Part B, paragraph 15 (page 15). The original circular is the authority.
Putting it together
So far: every import payment, including imports from EPZs, PEPZs, EZs and HTPs, is applied for on an IMP form. The AD approves it on the reverse where it is empowered, or sends it to Bangladesh Bank, and government imports get a bold "G". The importer must then submit the authenticated Bill of Entry within 4 months: from the remittance, from acceptance for usance/DA, or from the foreign lender's payment for buyer's credit (a certified invoice or Customs certificate for post and courier). Genuine delays can be taken to FEOD with the IMP Form No. and LC/Contract no.
Next: Lesson 14, Closing the file. How the bank matches the Bill of Entry with the IMP form, what happens when the two don't agree, and what to do when goods are lost.