The Bill of Entry, what are stay in the bill of entry.

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The Bill of Entry, what are stay in the bill of entry. An account of goods, when it Import and Export by the customhouse, detailing with the merchant, quantity of goods, their types, and the place of origin or beneficiary. It is issued from the customs presenting the total assigned value and the corresponding duty charged on the Machinery, Car, Fabric  cargo, Accessories etc its called the Bill of Entry. 

The Bill of Entry, what are stay in the bill of entry. In the bill of entry lots of criteria are involves. I explain to you one by one in the below:

1. Declaration number.

2. Consignor/Exporter Name & Address.

3. Page Number.

4. Blank.

5. Items quantity.

6. Total pac quantity.

7. Agent Reference.

8. Consignee/Importer Name and Address.

9. BIN (Business Identification Number).

10.

11.

12. Total Other Cost.

13.

14. Declarant/Agent Name and Address.

15. Country of Export Name.

16. Country of Origin Name.

17. Country of Destination.

18. Name of Carrier/Nationality

19. C.F

20. Delivery Term (CFR)

21. NA

22. Currency total invoice value.

23. Exchange Rate

24. Nature of Transaction.

25. MoT

26. NA

27. Place of Loading/Unloading.

28. Financial and Bank Information.

29. Office of Entry/Exit.

30. Location of Goods.

31. Packages and description of goods

32. Item no.

33. HS Code

34. C. O Code

35. Gross Weight (kg)

36. Agr. CD             37. CPC      38. Net Weight (kg),    39. Visa Ref. 

40. Line Number/SL Number-Cargo Lading No.

41. Quantity/Units     42. Item Price     43. V. M

44. Additional Information, Documents produced Certificates and Authorization.

45. Adjustment     46. Items Assessable Value.

47. Calculation of Taxes. 

48.. Deferred Payment.    49. Identification of warehouse.

50. Accounts Details and Total declaration.

The Pandemic Covid-19 (Corona Virus) situation in RMG Sectors

The Pandemic Covid-19 (Corona Virus) situation in RMG Sectors

The Pandemic Covid-19 (Corona Virus) situation in RMG Sectors. After Rana plaza incident back in 2013 almost all the brands across the world decided to setup a cluster to establish factory standard. From Infrastructure to worker safety everything was brought under perimeter & rating. Platinum, Gold, Silver such classifications were introduced to let everyone know how good that manufacturing unit is. These fancy ratings involved a huge amount of investments but most of the manufacturers welcomed it as they do appreciate the thoughts behind it and also they do want to keep the business in this country. They want to keep their stakeholders happy in the long time run.

District Wise Covid-19 Positive Cases

Now in 2020 with COVID-19 pandemic across the world – some of the retail brands has shown their back to their vendor garment manufacturing partners by not paying the due. Unfortunately there isn’t any Cluster for manufacturing countries who can rate these retail brands . World need to know how these brands are performing in terms of their social responsibilities like- paying their bills on correct time, not making unethical excuse to cancel orders when sales are down, giving proper respect to the people who are working in manufacturing end. This is high time to collaborate with other manufacturing countries so that there is a governing body who can monitor & take action against these retail brands who are making unethical & selfish decisions.

Dhaka City Covid-19 Positive

Some QA- 01. Such behavior hasn’t grown in overnight..
Some of our respected garments owners & buying agents showed few tricks to lure the buyers for the business..

Which the realistic buyer applied the same in their turns ..

Whatever.. now it’s the time to get the answer on Morality, Ethical business practices etc from the Loud Voices & their partners in crime.. Accord, Alliance, Industrial, & most importantly the local Trade Union Leaders.. who talk so beautiful English in their tours in abroad & in front of media

QA 02. You’ve said the right thing brother 👏👏 And it should make a black list of those retailers brand who are taking the unethical decision..

QA 03. This type of behavior from the buyer is very cruel and most probably they will again start their business in BD but changing their brand name. They just played a nice game to show the lame excuse of store closed to avoid the payment.

QA 04. Sears kmart & Debenhams are culprit for us !!! Both are not taking goods on the other hand carriers are charging us the containers storage cost at destination port

Division Wise Covid-19 Positive Cases

General Condition of Purchase Procedure or Procurement Plan in Every Organization

General Condition of Purchase Procedure

General condition of purchase procedure or procurement plan is most important in every organization. It’s more important to every going concern company to run effectively. The below general conditions of purchase procedure. That will be raised by both Buyer and Seller for RMG or any others sectors.

1.- The present sale or purchase will not be completed until Buyer receives the supplier’s full acceptance. This will take place when a duplicate of the order is returned, signed and sealed by the supplier. If this acceptance is not received within a period of 15 days as of the date of the order, the order will be

2.- If, after the scheduled delivery date, the goods have not been received, the purchaser may decide freely whether to accept or reject them, without being under the obligation to pay any compensation whatsoever.

3.- Should there be any difference between the sample on which the order was based and the manufactured goods, the supplier must not dispatch them without the written authorization of the purchaser, who, even in such a case, reserves the right to reject the goods once they have been examined.

4.- The delivery of goods must be made in the agreed quantity; any differences should always maintain the size breakdown proportion to be accepted. The purchaser will accept a difference of a lower amount of stock of up to 5% of the quantity agreed upon in the order. In this case the order for the undelivered goods will be understood as automatically cancelled, unless otherwise agreed in writing by the buyer.

5.- The acceptance, whether manifest or implied, of the order implies the acceptance of the General Conditions of the Labeling Manual and of the particular or special conditions stated above. No modification of these, not the application of any different conditions, will be effective unless they carry the written consent of the purchaser, being signed by an authorized person.

6.- The supplier and the purchaser will be subjected to County law and the jurisdiction and contention of the courts of justice and tribunals of the city foregoing any other which might correspond to them.

7.- The purchased goods must comply with regulations concerning both the composition of textile products and the concretions limits of dangerous substances (such as formal dehido, formalin), that were applicable whatever the market, and the supplier is under the responsibility towards the buyer, for all losses and damages, that the noncompliance of its obligations can carry out.

8.- The supplier warrants that the merchandise does not infringe any third-party proprietary right and/or legislation whatsoever (including, without limitation, copyright, trademark, patent rights, trade secrets rights, unfair competition, etc.) in any territory of the world and will hold the purchaser harmless against any loss, damage, expense or cost, including, but not limited to, reasonable attorney fees, arising from any claim directly or indirectly related to the representations and warranties hereby granted and/or its breach by the supplier.

9.- The payments in Moneywill be ordered on each1st and 15th every month;the payments in USD will be ordered on each 10th and 25th every month; or on next banking day in case of Public Holidays / Weekend.

How to Calculate Standard Minute (SM), Produce Minute (PM) & Input Minute (IM) in RMG Secctors

How to Calculate SM

How to Calculate Standard Minute (SM), Produce Minute (PM) & Input Minute (IM) in RMG SecctorsSM is defined as the time which is allowed to perform a completed a Garments Product. Normally it is expressed in SMV. The full elaboration of SMV is Standard Minute Value. SMV term is commonly used in the garments industry. SM is also known as Standard Allocated Minute (SAM). For smooth and timely shipment an export order a exporter need to proper SMV set up in garments production floor.

Professional accountant (ICMAB, ICAB, ACCA) and Industrial Engineering (IE) are both debated by Standard Minute (SM), Produce Minute (PM), Standard Minute Value (SMV), Actual Minute (AM), Imput Minute (IM). 

We need some basic information to calculate SMV, SM, PM, IM, AM. Here the below information are 09 (Nine) Line Woven Bottoms Garments Industry

Work Station646
Total Manpower1198
Sewing Man641
Sewing Machine516
Man Machine Ratio (MMR)1.24:1
Total Man Machine Ratio (TMMR)2.32:1
Working Hr/Day9.78
Working Days148
Efficiency62%
Available Standard Minute in Lac348
Total Available Minute in Lac556
SM/Pcs20.19
Data of Productivity



General formula of SMV is given below-

SMV= Basic time + Allowance







General formula of Produce Minute (PM) or Actual Minute (AM) isgiven below-

PM or AM= Man*Hours*60



General formula of Input Minute (IM) or Standard Minute (SM) isgiven below-

IM or SM= SM*Actual Production


ZAKAT is one of the five fundamental pillars of Islam

Zakat

ZAKAT is one of the five fundamental pillars of Islam It’s mandatory on all muslims who are of eligible wealth. Zakat is due from and payable by a person on his wealth not income. Which has remained with him/her for one Islamic year.

It is difficult to examine the completion of one year on each item of wealth to give zakat to poor people. The below video link and excel soft file are both for your better understanding.

Alhamdulillah, the month of Ramadhan has been bestowed upon us by Allah.

রৌপ্য: সিলভার স্ট্যান্ডার্ড দ্বারা নিসাব 21 আউন্স সিলভার (612.36 গ্রাম) বা নগদ পরিমাণে এর সমতুল্য। এটি 08 May 2020 এ প্রায় @ BDT 42.24 করে (25,866) টাকা।
Silver: The nisab by the silver standard is 21 ounces of silver (612.36 grammes) or its equivalent in cash. This is approximately BDT 42.24 (25,866) on 08 May 2020.
স্বর্ণ: সোনার স্ট্যান্ডার্ড দ্বারা নিসাব 3 আউন্স সোনার (87.48 গ্রাম) বা এর নগদ সমতুল্য। এটি 08 May 2020 এ সোনার জন্য প্রায় @ BDT 4,668 করে (4,08,357) টাকা তবে সোনার বাজার মূল্যের সাথে এটির পরিবর্তিত হবে।
Gold: The nisab by the gold standard is 3 ounces of gold (87.48 grammes) or its cash equivalent. This is approximately @ BDT 4,668 (4,08,357) taka for gold on 08 May 2020, but will vary with the market value of gold.
Nisab calculation for Zakat
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