Hard words from the lessons, in plain English. Each one links to the paragraph where it is used.
64 words
A bank branch licensed by Bangladesh Bank to deal in foreign exchange.
Air cargo receipt; it is not a title document like a B/L, so the rule sends it to a bank abroad.
Anti-Money Laundering / Combating the Financing of Terrorism rules.
Advance Receipt Voucher: the declaration for money received before export.
Transferring your right to receive money to someone else.
An import LC opened on the strength of an export LC, common in garments.
Customs document that permits the goods to be shipped.
Shipping document for sea cargo; it is the title to the goods.
Signing without naming who receives the rights. The holder becomes the owner.
Genuine; made in good faith.
Cash Against Documents: the buyer pays to get the shipping documents.
Office of the Chief Controller of Imports and Exports. Issues trade registrations (ERC, IRC) and public notices.
Cost, Insurance and Freight: the seller pays freight and insurance to the destination port.
Fee paid to an agent or the buyer's representative for arranging a sale.
A foreign bank that works with your bank abroad.
Paying for goods with other goods under an approved arrangement, settled through an escrow account.
Documents against Acceptance: the buyer accepts a bill to pay later and gets the documents now.
Duty Exemption and Drawback Office, which handles duty refunds for exporters.
A local supply that counts as export, for example fabric sold to a garment exporter against a back-to-back LC.
Instruction from the shipping company to release goods to a named party.
A buyer's request to pay less than the invoice, usually citing quality or delay.
Paying the exporter now, minus a cost, for a bill that the buyer will pay later.
Export General Manifest: Customs' online list of goods actually loaded.
Signing on the back of a document to transfer rights to someone else.
Export Registration Certificate, issued by CCI&E. Must be valid for an exporter to export.
Exporters' Retention Quota: a foreign currency account where exporters may keep part of their proceeds.
The export declaration form. Every export, unless exempt, must have one.
The government's rule book on what may be exported and on what terms. Renewed every few years.
The branch's record of all EXP forms issued (Appendix-2).
Ex Works: the buyer collects from the seller's premises.
Forwarder's Cargo Receipt.
Foreign Exchange Regulation Act. The law behind all of Bangladesh Bank's FX circulars.
Free On Board: the seller loads the goods on the ship; the buyer pays the sea freight.
A currency that can be exchanged freely, such as USD, EUR, GBP or JPY.
The charge for carrying goods by ship, air or road.
House Bill of Lading / House Airway Bill, issued by a freight forwarder.
On the way, between the seller and the buyer.
ICC trade terms such as FOB or CIF that say who pays which costs and where risk passes.
Know Your Customer: checking who the customer really is.
A court case.
Showing a wrong price on the invoice to move money illegally.
The bank pays or gives value to the exporter against documents before the foreign bank pays.
Offshore Banking Unit of a bank.
Online Export Monitoring System of Bangladesh Bank.
Online Import Monitoring System.
Online Payment Gateway Service Provider, for example a platform that pays freelancers.
Export proceeds not received within the allowed period.
Export money not received within the allowed time.
Done afterwards, after the event.
Proceeds Realisation Certificate: proof that export money has been received.
Loans to an exporter before the goods are shipped, for example to buy raw materials.
Bringing export money back into Bangladesh through a bank.
Food, fuel and supplies for the ship itself, not cargo for sale.
Shipping less than the quantity planned or declared.
Cargo that was planned but not loaded at all.
Secured Overnight Financing Rate: a US dollar benchmark interest rate.
A guarantee-like LC that pays if the applicant fails to perform.
A permission from Bangladesh Bank that covers repeated cases, not just one.
Uniform Customs and Practice for Documentary Credits. The ICC rule book for LCs (current version: UCP 600).
Uniform Rules for Collections (URC 522). Rules for sending documents through banks for payment without an LC.
A credit period: the buyer pays some days after receiving the documents (for example, 90 days).
The financier can claim the money back from the exporter if the buyer doesn't pay.
The financier can't claim the money back from the exporter if the buyer fails to pay.
Office hours on bank working days. Weekends and holidays don't count.