Yours Application Sample from Bangladesh Bank

(Monogram)

Bangladesh Bank Head Office Motijheel, Dhaka-1000 Bangladesh

Foreign Currency Investment Department

Ref. No.: BoiMuBi/729/13331/10830/2007                                                                        Date : 11/11/2007 AD

Manager

Standard Chartered Bank

67, Gulshan Avenue

Gulshan

Dhaka-1212.

Dear Sir,

                                Regarding issuing of general approval to work as ‘Indenting Agent’ under Section 18A of

                             Foreign Currency Controlling Law of 1947 AD.

                                Approval No.: BoiMuBi/729/114/2007-(General).

                                A/C. : M/s. ZINTEX ASSOCIATES LIMITED.

This his hereby draw your attention to your letter No.: CSG/2939509/1412 dated 31/10/2007 AD.

(02) In this regard your said client has been permitted to work as Indenting Agent on favor of the under mentioned 04 (Four) Nos. foreign principal as per prevailing the duration of the agreement.

1.                    M/S. ALKAN MANIKA, TURKIYE

2.                    M/S. NAOMOTO ASIA TRADING CO PTE LTD, SINGAPORE.

3.                    M/S. CHU CHEONG CO PTE LTD, SINGAPORE.

4.                    M/S. SUNSTAR MACHINARY CO., LTD, KOREA.

(03) This approval has been issued as per carrying on the under mentioned terms & conditions: -

(One)         At the time of issuing this indent keeping unchanged the above mentioned approval number in every indent they must be stated. If this approval number is not written down in the indent the approved dealer bank cannot open L/C against it. In the legal approval letter you should enclose an attested copy with each indent. In favor of the concerned foreign principal for working as an agent as attested copy the approval letter of Bangladesh bank should be submitted with each indent.

(Two)        For Bangladesh bank of the properly demarcated indent the additional 02 (Two) copies shall have to submitted to the concerned importers with the attested copy of approval of this department so the approved dealer bank can open L/C against that.

(Three)     The serial number and date of issuing should be written down in each copy of the issued indent on the yearly basis (January to December).The copy of each indent should be preserved in the file of the client so that it might be inspected by bank subsequently if it is required.

(Four)        After receiving this approval letter if your client executes any new contact/agreement etc. with any other foreign principal in this case after finalizing of those agreements etc. before opening the L/C in favor of them it’s attested copy with details description should be submitted to Bangladesh Bank by this how approval letter should be received.

(Five)         With the principal mentioned in this approval letter or subsequently with the approved foreign principal after completion the duration of the executed agreement if he desires to continue the business by renewing the duration of the contact should be informed to the Bangladesh Bank.

(Six)             After completion of validity by renewing the Indentures Registration Certificate (I.R.C) and membership certificate of Bangladesh Indenting Agents Association should be informed to this department.

(Seven)    The quarterly particulars/statement of the gained commission with full particulars through the specified table (Sample annexed) and in supporting of bringing the commission to this country with the encashment letter of your client of the concerned bank should be submitted to the Deputy-General Manager, Foreign Currency Policy Department, Return Branch, Bangladesh Bank, Head Office, Dhaka. If any commission might not be gained they will submit the zero statement. Here it is mentioned that at the time of including the new name of principal for the subsequent renewal the matter of gaining commission and returning shall have to be analyzed with care.

(Eight)      Within 01 (One) month of receiving the commission from the foreign principal they will under take required steps to bring the same to this country.

(Nine)        As per prevailing law/by-law of the country if license/permission/approval is required to be taken from any other authority they will not be released from receiving the same by any means.

(Ten)          After receiving the approval (Up to three years continuously) if any quarterly report is not submitted or if the zero particular is submitted continuously or if he did not capable to conduct any business the issued approval will be considered void automatically.

(Eleven)  If any above-mentioned conditions is violated or if it is required Bangladesh Bank preserve the right of withheld/retur this issued approval.

(04). For this if the statement/report is not submitted properly by the business firm, if it dose not gain the satisfying commission and if he does not return the gained commission, if he fails to show the gained commission properly in the statement, if any complain is arisen/established against them and the foreign rule or the direction issued by Bangladesh Bank is violated, in this case Bangladesh bank can withheld/cancel this approval letter.

(05) For violation of terms & conditions of this approval letter if the concerned dealer bank helps to the permitted party legal steps might be taken against the concerned dealer bank.

Yours Truly,

Sd/- Illegible

(Md. Joinal Abedin)

Assistant Director

Ph.: 7126101-20/2473.