About General Bond Test

Chairman

Md. Mosharraf Hossain Bhuiyan, NDC

Commissioner

Md. Azizur Rahman

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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:

Deemed Exporter: Tk. 10,000,000
Direct exporters (Knit, Woven, Sweater): Tk. 30,000,000
Both Deemed and Direct Exporter: Tk. 20,000,000
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:

Bonded warehouse types	Bonding period
Special Bonded Warehouse	24 Months; Commissioner reserves the power to extend the bonding period for a maximum of 6 months
Direct Exporter	24 Months; Commissioner reserves the power to extend the bonding period for a maximum of 6 months
Home Consumption Bond (e.g. British American Tobacco, Hayes and Haier, Meghna, Citi group, TK)	6 Months; Commissioner may extend the bonding period for 3 months and NBR may further extend the bonding period for 3 months
Deemed Exporter	24 Months; however, Commissioner reserves the power to extend the bonding period for a maximum of 6 months
Diplomatic and privileged persons Bonded warehouse	12 Months; Commissioner may extend the bonding period for 3 months and NBR may further extend the bonding period for 3 months
Ship Builders Bond	48 Months; bonding period is extendable.