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Bangladesh Letter Of Credit Major Rish Warning
Jan 30, 2019


    The Farmers Bank Limited of Bangladesh has caused huge loss to Chinese enterprises due to its frequent breach of credit since last year. On Jan. 20,2019 Economic and Commercial Counselor's Office of the Embassy of the People's Republic of China in the People's Republic of Bangladesh issued a security risk warning on its office website and officially included the bank in the blacklist.

    According to the foreign exchange management regulations of Bangladesh, except for special case, external payment of import and export must generally adopt the method of bank letter of credit.

    Due to the poor reputation of commercial Banks in Bangladesh, many of the issuing Banks operates against the rules and regulations. In the export business of Chinese companies to Bangladesh often encountered delay payments without any discrepancy on the LC at sight or released documents before customer complete payment procedure or  customer lodged a claim on quality after customer picked up the goods or inspected goods, it this way forced exporter to make discount etc caused great economic loss.

   Tungsheng Industry always put the integrity first in the past 20 years export business. " Integrity, Responsibility, Gratitude, Acceleration, Innovation and Win-win situation " are our enterprise values. we put it in the first place.

    Our garbage classification bags, plastic drawstring trash bags, LDPE flap tie bin liners or food grade HDPE produce bags, we insist on integrity management. Even our main goods are fast-moving consumer goods, we will be responsible for every bag we produced. All the complain will be handled in the fastest way and make improvements to solve the problem in manufacturing steps.

     If you want to learn more about our products pls directly Contact us!



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