Bangladesh apparel exporters, who had their export consignments damaged in the BM Depot fire incident — millions of dollars’ worth of goods were burnt during a fire incident at the BM Container Depot in Chittagong in June this year — are facing payment uncertainty as the buyers have delayed paying for the damaged apparels.
As per reports, the apparel makers have asked for payment for their supplied goods from the buyers who will claim compensation from their respective insurance companies even if as per industry insiders, the buyers are responsible for the goods handed over to their forwarding agents by exporters as per the terms of the letter of credits (LC).
Reports further suggest even if buyers like H&M have already paid their suppliers, many are yet to do so, thereby putting stress on the apparel makers.
