The Bangladesh Garment Manufacturers and Exporters Association (BGMEA) has instructed its members to compile a list of global apparel buyers and buying houses that unreasonably demand discounts following the arrival of goods at foreign ports.
In a circular issued on 21st December, the BGMEA highlighted the issue of certain dishonest buyers who refuse to accept finished goods as per contractual agreements or letters of credit.
Additionally, some buyers, after the goods have been released from foreign ports, either declare bankruptcy or seek discounts based on illogical reasons.
The decision to gather this information stems from discussions held during a meeting of the discount committee of the Bangladesh Bank on 11th December.
BGMEA President Faruque Hassan emphasised in the circular that exporters do not willingly offer discounts; rather, they are compelled to agree to such requests due to deceptive practices by fraudulent buyers, buying houses, and freight forwarders.
