The buying procedure of BJMC is quite simple. The intending buyer only needs to do the followings:
Enquiry: At this stage the intending buyer needs to contact BJMC by Fax / Telex / email etc. as under:
a) If the product is known to the buyer: Product specification, Quantity, Shipment time, Destination and special instruction on packing, if any.
b) If the product is unknown to the buyer: Nature and field of end-uses of the product, quantity, shipment time, destination etc. to enable BJMC to specify the best nearest product to serve buyers need.
Offer: Upon getting enquiry from the buyer, BJMC on the basis of availability, almost immediately will extend offer quoting price and other business particulars for buyer’s response and confirmation within 48 to 72 hours.
Acceptance: On receipt of buyer’s confirmation, BJMC will finally accept the deal for production and shipment on receipt of Letter of Credit and / or other negotiable instrument as decided on by both the parties.
Establishment of Negotiable Instrument: BJMC requires to receive well in time Clean and Workable Irrevocable Letter of Credit established through any First Class International Bank. The terms and condition of the L/C must be laid in accordance with the Terms of Offer and Uniform Customs and Practice for Documentary Credit of International Chamber and Commerce.
Usually BJMC provides guideline to the buyer in line with the Bangladesh Bank (Central Bank of Bangladesh) Exchange Control Regulation in establishing L/C to avoid unnecessary amendments and thereby killing time causing delay in shipment of goods.
BJMC prefers having the L/C in hand:
a) Within 7 days from the date of acceptance of the deal if the goods are to be shipped in 30 days of conclusion of sale.
b) Within 30 days prior to the shipment month if the goods are to be shipped against forward sale.