About General Bond

About General Bonded

General Bond: Bonded warehouse license holders are needed to submit general bond of differing values to Customs in order to clear their consignments. Commissioner of Customs may increase the value of General Bond. At present, value of general bond for different types of bond license holders are as follows:

1. Deemed Exporter: Tk. 10,000,000
2. Direct exporters (Knit, Woven, Sweater): Tk. 30,000,000
3. Both Deemed and Direct Exporter: Tk. 20,000,000
4. Diplomatic, Duty Free and Duty paid Bond: Tk. 30,000,000

All the imported goods cleared under Bonded Warehouse license are stored at the bond holder's warehouses. In case of failure to export, importers are to pay duty charges and taxes for the rest of the goods imported. Bond holders are required to maintain bond registers and other documents. Bonded warehouses are subject to mandatory yearly audit.

Bonding period: For export-oriented industries, bond period varies from industry to industry. Bonding periods are shown below: