How to oppose a suit lodged by a bank in Bangladesh

by Tahmidur Remura Wahid | Jan 8, 2023 | 2023, Law

How to oppose a suit lodged by a bank in Bangladesh

If you have been served with a lawsuit from a bank in Bangladesh, you will need to respond to the lawsuit in order to present your side of the case. One way to respond is to file an "answer" to the lawsuit.

 This is a document in which you can raise any defenses or arguments that you have to the bank's claims. You will need to follow the procedures set forth by the court in order to properly file your answer.

You should also consider seeking the advice of a lawyer to help you understand your legal rights and options. A lawyer can help you prepare a strong defense to the bank's claims and represent you in court.

In Bangladesh, a default judgment is a judgment entered by the court in favor of the plaintiff (in this case, the bank) if the defendant (you) fails to properly respond to the lawsuit or appear in court for a hearing. 

This can happen if you do not file an answer to the lawsuit within the time required by the court, or if you fail to attend a scheduled court hearing.

If a default judgment is entered against you, it means that the court has granted the bank's requested relief without considering your defenses or arguments. This can have serious consequences, such as the bank being able to garnish your wages or seize your assets to satisfy the judgment.

To avoid a default judgment, it is important to respond to the lawsuit promptly and to follow the procedures set forth by the court. 

It is important to act promptly in responding to a lawsuit, as failing to do so can result in a default judgment being entered against you. This means that the court may grant the bank's requested relief without considering your defenses or arguments.

Here are the steps you can take to oppose a lawsuit filed by a bank in Bangladesh:

1. Review the lawsuit and make sure you understand the bank's claims and the relief it is seeking.
2. Consider seeking the advice of a lawyer. A top lawyer can help you understand your legal rights and options, and can represent you in court.
3. File an "answer" to the lawsuit. This is a document in which you can raise any defenses or arguments that you have to the bank's claims. You will need to follow the procedures set forth by the court in order to properly file your answer.
4. Prepare your defense. You will need to present evidence and arguments to support your defenses to the bank's claims. This may include gathering documents, witness statements, and other types of evidence.
5. Attend any court hearings or proceedings. You will need to attend any court hearings or proceedings related to the lawsuit. This is your opportunity to present your defense to the court and to challenge the bank's evidence and arguments.
6. Consider negotiating a settlement. If you are unable to successfully defend against the bank's claims, you may want to consider negotiating a settlement. This can involve agreeing to pay the bank a certain amount of money in order to resolve the case.

It is important to act promptly in responding to a lawsuit and to follow the procedures set forth by the court. Failing to do so can result in a default judgment being entered against you.

Steps of a Money Loan (Artha Rin) Court Suit in Bangladesh:

For detailed understanding, here is a explanation of the steps involved in a money loan (artha rin) court suit in Bangladesh:

1. The lender files a lawsuit against the borrower. The lender will file a complaint with the appropriate court, alleging that the borrower has defaulted on the loan and seeking to recover the unpaid balance. The complaint will typically include details about the loan agreement, the amount of money owed, and the lender's efforts to collect the debt.
2. The borrower is served with the lawsuit. The borrower will be served with a copy of the lawsuit and a summons, which will inform them of the lawsuit and the date of the first court hearing. The summons will typically contain information about the time and place of the hearing, as well as the borrower's obligations and rights in the lawsuit.
3. The borrower responds to the lawsuit. The borrower has the option to file an "answer" to the lawsuit, in which they can raise any defenses or arguments they have to the lender's claims. The answer is typically due within a certain number of days after the borrower is served with the lawsuit. If the borrower fails to file an answer, they may be at risk of a default judgment being entered against them.
4. The court schedules a hearing. The court will schedule a hearing to allow both parties to present their evidence and arguments. The hearing may be held before a judge or a jury, depending on the specific circumstances of the case and the rules of the particular court.
5. The parties present their cases. Both parties will have the opportunity to present their evidence and arguments to the court. This may include witness testimony and documentary evidence, such as loan documents and records of payments made or not made. The parties may also be able to cross-examine the other party's witnesses.
6. The court renders a decision. After considering the evidence and arguments presented by both parties, the court will render a decision. If the borrower is found to be in default, the court may enter a judgment in favor of the lender, ordering the borrower to pay the unpaid balance of the loan. If the borrower is found not to be in default, the court may dismiss the case.
7. The borrower can appeal the decision. If the borrower is unhappy with the court's decision, they may have the option to appeal the decision to a higher court. The appeal process will typically involve the submission of additional legal briefs and possibly a new hearing before the higher court.

It is important to note that these are general steps and that the specific procedures may vary depending on the specific circumstances of the case and the rules of the particular court. It is also important to seek the advice of a lawyer to help you understand your legal rights and options.

Steps of an Artha Rin execution suit in Bangladesh:

Hire the best law firm in Bangladesh in Artha Rin Matters in Bangladesh:

The Artha Rin Adalat Ain, 2003 (Money Loan Court Act, 2003) is the primary legal instrument dealing with bank and non-bank financial institutions (NBFI) loan defaulters, outlining mechanisms for banks and financial institutions (FIs) to be reimbursed. The Act establishes a separate court to deal with money loan cases, which can only be filed by a bank or an NBFI.

In litigation, we have a strong, young, and energetic team. Furthermore, our Research Team is always available to assist them in preparing a strong claim with updated laws and case references. Our team can also provide an opinion on various issues and help with litigation. Our professionals always carefully nurture the suit and always try to ensure the rights of the sufferer, with some notable successes as follows.

Tahmidur Rahman Remura Wahid - A Full-Service Law Firm has a proven track record of assisting clients with Artha Rin Adalot Matters. We have an experienced team of lawyers who can assist you by representing you in ArthaRin Suits before the Joint District Judge Court and the High Court Division of the Supreme Court of Bangladesh.

If you require any assistance or consultation, please visit our office or contact us at +8801779127165 or +8801847220062 (WhatsApp) or by email- info@trfirm.com. 

E-mail: info@trfirm.com
Phone: +8801847220062 or +8801779127165 or +8801708080817

Address: House 410, Road 29, Mohakhali DOHS, Dhaka 1206

Alternative Dispute Resolution in Bangladesh

by Tahmidur Remura Wahid | Jan 4, 2023 | 2023, Law

Alternative Dispute Resolution in Bangladesh and what exactly is ADR?

The term "alternative dispute resolution" or "ADR" is frequently used to refer to a wide range of dispute resolution mechanisms that are abridged versions of or substitutes for full-scale court processes or judicial process. In other words, alternative dispute resolution refers to the practice of resolving disputes between parties through means other than formal litigation. ADR is a process that can be independent (non-judicial) or court-annexed (judicial), binding or non-binding, formal or informal, obligatory or voluntary.

It should be emphasized that the term "ADR" is misleading in the sense that it is not always an alternative to formal litigation and is frequently a part of formal litigation, particularly for court-connected ADR processes. According to Professor Thomas J. Stipanowich, ADR is an obsolete acronym that exists solely for convenience. "Not only is 'alternative' unhelpful- alternative to what?- but "appropriate" better conveys the concept of "method best suited to resolving the dispute," as noted by the California Task Force. Professor Jean R. Sternlight prefers "Appropriate Dispute Resolution" to "Alternative Dispute Resolution."

ADR typically includes the following mechanisms: negotiation, conciliation, mediation, and arbitration.
However, the variety of ADR models found in various nations can be described as follows:

(a) Court-annexed or stand-alone ADR
(b) Binding or Non-binding ADR
(c) Formal and Informal Alternative Dispute Resolution
(d) Basic and Hybrid ADR

Court Annexed ADR or Independent ADR:

ADR may be either standalone or court-annexed. In other words, ADR may or may not be tied to a lawsuit. When ADR is incorporated into a lawsuit or court proceeding, it is referred to as court-annexed ADR (judicial ADR).

(a) Court-Annexed ADR:

In this instance, resorting to ADR is contingent upon the court process, as it is tied to the country's justice system. After filing a court case, a judge or court employee will examine the dispute and suggest or order the parties to attempt alternative dispute resolution, such as mediation, conciliation, negotiation, and mini-trials. Under each approach, the judge or a neutral third party will attempt to bring the parties to an amicable resolution.

If they do, the case is dismissed, saving the parties time and money. A court-administered alternative dispute resolution process may precede, follow, or intervene in the formal legal process. There is no obvious reason to favor one of these models over the others. A model that gives disputants access to an ADR process at any stage of a pending suit or case is arguably the best.

(b) Independent ADR:

On the other hand, independent ADR is unrelated to court proceedings. Freestanding ADR occurs when disputants independently engage in conciliation or approach a middleman or neutral third party to negotiate or mediate their dispute. Examples of independent ADR include I commercial arbitration and (ii) community or local ADR.

Commercial Arbitration:

Commercial arbitration is a common form of independent alternative dispute resolution. The disputants agree on a neutral third party or a process for naming the neutral third party to resolve the dispute. In addition, they agree on the rules the arbitrator will use to decide the case and whether or not the decision will be binding or merely advisory. Complex contracts, such as those for the construction of a power plant, typically contain arbitration clauses outlining how disputes will be resolved in advance. In other instances, the parties do not agree to arbitrate until a dispute has arisen.

The Model Law on International Commercial Arbitration, published in 1985 by the United Nations Commission on International Trade Law, has been adopted by the vast majority of countries to facilitate commercial arbitration. This law makes arbitral awards legally enforceable, grants broad rights to commercial parties to choose how they will arbitrate their disputes, and directs courts to only overturn awards in the most limited circumstances.

Community-based alternative dispute resolution is a second independent type of alternative dispute resolution. It builds on traditional models of popular justice that rely on elders, religious leaders, or other community figures to assist in resolving local or community conflicts on a daily basis. In Bangladesh, for instance, the traditional Shalish system, in India lok adalat, and in the Philippines barangays or neighborhoods attempt to resolve minor disputes between villagers.

Different types of ADR in Bangladesh:

Sumaiya Khair suggests that there are three streams of ADR in Bangladesh:

• Extra- judicial or community based ADR (informal);
• ADR in Quasi-formal systems; and
• ADR in formal legal system.

All these ADR modes have been discussed in different chapters in this book with there merits and demerits. Formal ADR in different laws are shown in the diagram below:

Informal ADR in Bangladesh

Informal ADR in Bangladesh includes traditional shalish and NGO modified Shalish. Quasi-formal ADR includes village court and Board of Conciliation have originated from the informal shalish system and this is why they all have been shown in the following single diagram.

ADR in different Bangladeshi Laws:

1. The Code of civil procedure, 1908.
2. The Code of Criminal procedure, 1898.
3. The Artha Rin Adalat Ain, 2003.
4. The arbitration Act, 2001.
5. The Bankruptcy Act, 1997.
6. The Muslim Family Court Ordinance, 1985.
7. The Muslim Family Law Ordinance, 1961.
8. The Gram Adalat Ain, 2006.
9. The Settlement of Disputes (Paura Area) Board Act, 2004.

Binding or Non-binding:

ADR (Voluntary or Mandatory): It is essential to differentiate between binding and non-binding ADR forms. The voluntariness of negotiation, mediation, and conciliation programs depends on the parties' willingness to reach a voluntary agreement. Arbitration programs may be either enforceable or non-enforceable. Similar to a court decision, binding arbitration results in a third-party decision that the disputants must follow even if they disagree with the outcome. Arbitration that is not binding results in a third-party decision that the parties may reject.

Another aspect of the mandatory versus voluntary nature of ADR relates to the manner in which disputes enter the 0 ADR process. In other words, the use of the ADR system may be mandatory or optional. If the parties are compelled to use alternative dispute resolution (by a court or statute, for example), then the use is binding or mandatory. Conversely, if the use is based solely on the consent of all parties, it is entirely voluntary and non-binding. Prior to court action, some judicial systems require litigants to negotiate, conciliate, mediate, or arbitrate.

ADR processes may also be mandated by a prior contract between the parties. In voluntary processes, the submission of a dispute to an ADR process is determined solely by the parties' volition.

ADR process is less formal than traditional legal proceedings, such as court cases. It is frequently emphasized that ADR is a less formal dispute resolution process than the formal legal system. The ADR process is informal in that the rules of procedure are flexible and lack formal pleadings, extensive written documentation, and rules of evidence, among others. Now, these informal ADR modes are separated into two categories: formal ADR modes and informal ADR modes. When a particular ADR mode is court-annexed, its records and proceedings may be required to be submitted to the court.

In contrast, when a mode of ADR is independent, it tends to be informal in the sense that neither the parties nor the mediator are required to keep a record of their proceedings, nor are they required to adhere to specific rules of procedure.

For the most part, negotiation is an informal process in which parties identify issues of concern, explore options for resolving those issues, and reach a consensus; if they fail to reach a consensus, the matter concludes without formality, leaving them open to other forms of ADR. Conversely, conciliation and mediation are considered informal when they are independent and formal when they are court-ordered or legally binding.

Traditional Shalish' or mediation or conciliation through NGO efforts are examples of informal ADR processes, whereas mediation and conciliation through court intervention are examples of formal ADR processes. Arbitration is more formal than other forms of alternative dispute resolution, and it is extremely formal when it is binding on the parties and can be enforced by the court.

A benefit of informal ADR systems is that they are less expensive and less intimidating for disadvantaged communities, which tends to increase the poor's access to justice.
Additionally, these systems are less expensive for the state and can be placed more easily in locations that will increase access for underserved populations.

Standard and Hybrid Alternative Dispute Resolution in Bangladesh:

Here is a table of different types of court-annexed alternative dispute resolution (ADR) processes:

The variety of ADR models found in developed and developing countries can be described in two fundamental ways: basic ADR processes, which include negotiation, conciliation, mediation, and arbitration; and hybrid ADR processes, in which specific elements of the basic processes have been combined to create a wide variety of ADR methods (e.g., med-arb. combines mediation and arbitration). Hybrid ADR processes may also incorporate court-based adjudication features; for instance, the minitrial combines an adjudication-like presentation of arguments and evidence with negotiation.

Here is a table that compares negotiation, mediation, conciliation, and arbitration:

The Benefits of Alternative Dispute Resolution (ADR)

There are some potential benefits to using ADR. Examples include:

Save Time:

ADR can often settle or decide a dispute much faster; often in a matter of months, even weeks, whereas bringing a lawsuit to trial can take a year or more.

Save Money:

When cases are resolved earlier through ADR, the parties may be able to save money on attorney fees, court costs, and expert fees.'

Increase Control Over the Process and the Outcome:

In ADR, parties typically have more influence over both the process and the outcome. Parties have more opportunities to tell their side of the story in most ADR processes than they do at trial. Some ADR processes, such as mediation, allow the parties to devise novel solutions that would not be possible in court. Other forms of ADR, such as arbitration, allow the parties to select an expert in a specific field to resolve the dispute.

Maintain Relationships:

Alternative Dispute Resolution (ADR) can be a less adversarial and hostile way to resolve a dispute. An experienced mediator, for example, can assist the parties in effectively communicating their needs and points of view to the other side. This can be a significant advantage when the parties' relationship is at stake.

Increase Satisfaction:

In most trials, there is a winner and a loser. The loser is unlikely to be pleased, and even the winner may be dissatisfied with the outcome. ADR can assist parties in finding win-win solutions and achieving their true objectives. This, along with the other potential benefits of ADR, may increase the parties' overall satisfaction with both the dispute resolution process and the outcome.

FAQ table in regards to Alternative Dispute Resolution in Bangladesh :

Are you planning to do arbitration or  looking for alternative dispute resolution remedies in Bangladesh?

Tahmidur Rahman Remura Wahid TRW is a full-service law firm that has been dealing with arbitration consisting of a wide range of topics at both international and local level. We have barristers that have specialised in  international commercial arbitration from the United Kingdom and accredited civil-commercial mediators. 

If you require any assistance or consultation, please visit our office or contact us at +8801779127165 or +8801847220062 (WhatsApp) or by email- info@trfirm.com. 

E-mail: info@trfirm.com
Phone: +8801847220062 or +8801779127165 or +8801708080817

Address: House 410, Road 29, Mohakhali DOHS, Dhaka 1206

How to send a legal notice in Bangladesh

by Tahmidur Remura Wahid | Jan 3, 2023 | 2023, Law

Sending a legal notice in Bangladesh is a formal way to initiate a legal process and can be an important step in resolving a dispute.

At common law, notice is the fundamental principle in service of process. In this case, the service of process puts the defendant "on notice" of the allegations contained within the complaint, or other such pleading. Since notice is fundamental, a court may rule a pleading defective if it does not put the defendant on notice.

In a civil case, personal jurisdiction over a defendant is obtained by service of a summons. Service can be accomplished by personal delivery of the summons or subpoena to the individual or the individual's authorized agent. Service may also be made by substituted means; for instance, in many jurisdictions, a summons may be served on a person of suitable age and discretion at the defendant's residence or place of business. Typically, jurisdiction over corporations can be obtained from a government entity authorized to accept such process.

Here is a guide on how to send a legal notice in Bangladesh:

1. Determine the appropriate recipient:
   
   The first step in sending a legal notice is to determine the appropriate recipient. This could be an individual or a company, depending on the nature of the dispute. Be sure to include their full name and contact information. If you are unsure who the appropriate recipient is, you may need to do some research or seek the guidance of a lawyer.
   
2. Identify the cause of action:
   
   In the legal notice, you will need to clearly identify the cause of action, or the legal basis for your claim. This could be breach of contract, defamation, or another legal issue. It's important to be specific and to provide details about how the other party has violated your rights.
   
3. Set out the facts of the case:
   
   In the legal notice, you should set out the facts of the case in a clear and concise manner. This should include a timeline of events and any relevant documentation or evidence. Be sure to include dates, names, and other specific details to support your case.
   
4. Demand a resolution:
   
   In the legal notice, you should demand a resolution to the dispute. This could involve asking for compensation, a change in behavior, or some other form of remedy. Be specific in your demands and provide a timeline for action to be taken.
   
5. Choose an appropriate mode of delivery:
   
   There are several options for delivering a legal notice in Bangladesh. You can send it by registered post, deliver it in person, or send it through a process server. Choose the option that is most appropriate for your situation. For example, if the recipient is likely to ignore or refuse delivery of the notice, using a process server may be a more effective option.
   
6. Keep a copy of the legal notice:
   
   It's important to keep a copy of the legal notice, as you may need to refer to it in the future. This could include keeping a copy of the notice itself, as well as any receipts or other documentation related to its delivery.
   
7. Consider hiring a lawyer:
   
   Depending on the complexity of your case, you may want to consider hiring a lawyer to assist with the process of sending a legal notice. A lawyer can help you draft the notice, ensure that it is properly served, and advise you on your legal options. They can also represent you in court if the dispute is not resolved through the legal notice process.
   
8. Follow up:
   
   The follow-up step is important because it allows you to ensure that the legal notice has been received and that the recipient is taking steps to resolve the dispute. If the recipient does not respond or does not take appropriate action, you may need to consider your next steps, which could include filing a lawsuit or seeking the assistance of a mediator or arbitrator.

FAQs about sending a legal notice in Bangladesh:

here is a table with 15 frequently asked questions (FAQs) about sending a legal notice in Bangladesh:

In summary, sending a legal notice is a formal way to initiate a legal process in Bangladesh and can be an important step in resolving a dispute. By following these steps, you can ensure that your legal notice is properly delivered and that your rights are protected.

Summary of sending a legal notice in Bangladesh with tips

Reply to a legal notice in Bangladesh:

Here are the steps to respond to a legal notice in Bangladesh in more detail:

1. Read the notice carefully:
   
   Take the time to carefully read and understand the legal notice you have received. Pay attention to the specific allegations or requests made in the notice, as well as any deadlines or instructions for responding.
   
2. Seek legal advice:
   
   It is highly recommended that you seek legal advice from a lawyer in Bangladesh to help you understand your rights and obligations in relation to the legal notice. A lawyer can also help you to determine your position on the legal issue and to prepare a written response to the notice.
   
3. Determine your position:
   
   After seeking legal advice, consider your position on the legal issue raised in the notice. Determine whether you agree with the allegations made against you and whether you are willing to comply with any requests made in the notice. If you do not agree with the allegations or requests, consider what arguments or evidence you can present to support your position.
   
4. Prepare your response:
   
   Based on your position, prepare a written response to the legal notice. This response should outline your position on the legal issue and any relevant facts or arguments in support of your position. Be sure to address all of the issues raised in the notice.
   
5. File your response with the appropriate court or tribunal:
   
   If the legal notice was issued by a court or tribunal, you will need to file your response with that court or tribunal. This typically involves submitting a written response, along with any supporting documents or evidence, to the court or tribunal. If the legal notice was issued by a private party, you will need to serve your response on the party that issued the notice. This can typically be done by delivering a copy of your response to the party or by sending it by registered mail.
   
6. Follow any additional instructions or deadlines:
   
   Make sure you follow any additional instructions or deadlines set out in the legal notice, such as appearing in court or providing additional information. If you fail to follow these instructions or meet these deadlines, you may face additional legal consequences.

I hope this helps! Again, please note that this is general advice and may not apply to your specific situation. It is always best to seek legal advice from a qualified lawyer in Bangladesh.

Legal notices are extremely efficient at resolving disputes between two or more parties. Consult a lawyer or another expert who is well-versed in legal jargon for assistance. If you believe you can write on your own, you should first learn how to draft a legal notice and then have an expert perform the final proofreading.

It will assist you in eliminating all superfluous statements from your legal notice. Ensure that you send the legal information as your initial warning to resolve the conflicts. In addition, include a specific timeline. If you continue to receive no positive response from the other party, the case must be brought to court for a final decision. It could be extremely time-consuming and expensive.

Therefore, the first step in resolving the case is to send an effective legal notice. Ensure you are on the right path by conducting a thorough examination of the format and other requirements outlined in this article.

Legal Advice regarding sending legal notices by Tahmidur Rahman Remura:

Barristers, Advocates, and lawyers at Tahmidur Rahman Remura Wahid in Gulshan, Dhaka, Bangladesh, have a lot of experience helping clients through the whole process of legal provisions and consequences of sending legal notices by any Domestic and International Companies or individuals in Bangladesh. If you have any questions or need legal help, please send us an inquiry over email or phone.

Email at: info@trfirm.com
Call us on: +8801847220062, +8801779127165
Address: House 410, Road 29, Mohakhali DOHS Phone: +8801779127165 or 01847220062

Best lawyers in Bangladesh

by Tahmidur Remura Wahid | Jan 1, 2023 | 2023, Law

Best Lawyers in Bangladesh in 2023

Bangladesh is home to a thriving legal profession, with many talented and dedicated lawyers working to serve the needs of clients across the country. In this article, we will take a closer look at some of the top lawyers in Bangladesh, highlighting their skills, experience, and accomplishments in the field which makes them as the contender for being the best lawyers in Bangladesh.

There are several qualities that can make a lawyer a top lawyer in their respective field in Bangladesh. These include:

1. Strong analytical and problem-solving skills: Top lawyers are able to analyze complex legal issues and come up with creative solutions.
2. Excellent communication and negotiation skills: A top lawyer must be able to effectively communicate and persuade others, including clients, judges, and opposing counsel.
3. Attention to detail: A top lawyer must have a keen eye for detail and be able to spot important issues that might otherwise be overlooked.
4. Strong research skills: A top lawyer must be able to effectively research legal issues and find relevant case law and statutes.
5. Ethical conduct: A top lawyer must always act with integrity and adhere to the highest ethical standards.
6. Adaptability: A top lawyer must be able to adapt to new situations and environments, as well as be open to learning and improving their skills.
7. Professionalism: A top lawyer must be professional in their demeanor and conduct, both in and out of the courtroom.
8. Perseverance: A top lawyer must be able to handle setbacks and challenges and continue to work hard to achieve their goals.

Corporate law is an important and complex area of the law that deals with the legal aspects of businesses, including the formation, operation, and dissolution of companies. In Bangladesh, there are many talented and experienced corporate lawyers who are dedicated to helping clients navigate the legal landscape and achieve their business goals.

Barrister Remura Mahbub

One of the best corporate lawyers in Bangladesh is Barrister Remura Mahbub , who has excelled over the last couple of years in the corporate legal sector in Bangladesh. Barrister Remura, who is also known as Barrister Remura Mahbub , is revered for her expertise in commercial and corporate law, and has successfully represented clients in a wide range of legal matters, including contract disputes, intellectual property cases, and mergers and acquisitions. Remura Mahbub is highly respected in the legal community for her professionalism, integrity, and dedication to his clients.

Remura Mahbub handles commercial (including mergers and acquisitions), banking, and company law problems. Remura Wahid advises clients in the areas of gas and oil exploration, power production and telecommunications, foreign investment, joint ventures, and other contractual and business concerns. Remura Wahid is actively engaged in banking law and corporate finance activity, including the creation of documentation for a variety of syndicated loans.

Remura Wahid has become one of the best lawyers in Bangladesh by performing a significant amount of advising work for corporate customers in the areas of contract negotiation and review, international trade, banking laws, corporate compliance, joint venture agreements, corporate finance arrangements, company formation, securitization, and taxation.

Barrister Tahmidur Rahman

Another top corporate lawyer in Bangladesh is Barrister Tahmidur Rahman, who has a reputation for providing exceptional legal representation to businesses of all sizes. Barrister Tahmidur has a deep understanding of corporate law and has successfully assisted clients in a variety of legal matters, including corporate restructuring, joint ventures, and corporate governance. Tahmidur Rahman is known for his ability to provide practical and effective legal solutions that help businesses succeed.

Tahmidur Rahman being one of the best lawyers in Bangladesh, has been involved in numerous local and cross-border transactions and has worked on numerous national and international private and government projects in close collaboration with various reputable foreign law firms.

Barrister Tahmidur has diverse knowledge in handling diverse legal issues relating to banking, insurance, real estate, company, society, labor, and NGO matters, as well as specialized knowledge in cross-border transactions, M&A, structured finance, foreign finance or investments, securitisation, factoring, implementation of various ventures, equity investments including the issuance of various classes of shares, factoring, Islamic banking, dealing in bonds, i.e. Tier-I, Tie

Advocate Syed Wahid

Advocate Syed Wahid is another highly respected corporate lawyer in Bangladesh, with a strong track record of success in the field. Wahid has a wealth of experience representing clients in complex business transactions and has helped numerous companies navigate the legal landscape and achieve their business objectives. Golam is known for his attention to detail, strategic thinking, and ability to find creative solutions to legal challenges.

Advocate Shahdeen Malik

One of the best lawyers in Bangladesh is Advocate Shahdeen Malik, who has over 30 years of experience in the legal profession. Shahdeen is known for his expertise in commercial and corporate law, and has successfully represented clients in a wide range of legal matters, including contract disputes, intellectual property cases, and mergers and acquisitions. Shahdeen is highly respected in the legal community for his professionalism, integrity, and dedication to his clients.

Advocate Mydul Haque Khan

Mydul Haque Khan is a Barrister from Lincoln's Inn in the United Kingdom and a prominent lawyer in Bangladesh's corporate and banking arena with over 15 years of experience. Khan is a founding partner of the renowned corporate law firm Lex Juris, where he is also the senior partner and head of the chamber.

Khan has extensive knowledge of various banking, corporate, and commercial matters, including dispute resolution, and is currently working as a panel, company secretary, and retained lawyer for various scheduled and international banks, financial institutions, NGOs, insurance companies, conglomerates, merchant banks, venture capitals, and government offices.

Advocate Rasheda K.Chowdhury

Advocate Rasheda K. Chowdhury is another highly respected lawyer in Bangladesh and one of the best lawyers in Bangladesh, with a strong track record of success in the field of human rights law. Rasheda has a long history of advocating for the rights of marginalized communities and has been involved in numerous high-profile cases, including cases related to gender-based violence, child rights, and police abuse. Rasheda is widely recognized as a powerful voice for justice and equality in Bangladesh.

Khan Khalid Adnan

He is the managing partner and head of the chamber of Khan Saifur Rahman & Associates (KSRA). Adnan is also the vice principal of Newcastle Law Academy (West), a recognised teaching centre of the University of London.

He has been engaged with banks and financial institutions and autonomous government bodies as their legal adviser, panel lawyer and counsel. He has also successfully worked extensively in domestic and international commercial arbitration and mediation. He is a regular contributor in several dailies and law journals.

Imtiaz Uddin Asif

Asif has advised corporate clients on contract negotiation and review, international trade, banking regulations, corporate compliance, joint venture agreements, corporate finance arrangements, establishing companies, securitisation, and taxation. Asif has extensive litigation and arbitration experience, as well as a substantial legal practice in the Supreme Court of Bangladesh's High Court Division.

Shamsud Doulah

Shamsud Doulah is a well-known corporate and commercial litigation lawyer in Bangladesh. Numerous local and international businesses are among his clients. His strong reputation in litigation and corporate matters has earned him the respect of multinational corporations and cross-border law firms. He has extensive experience negotiating large-scale construction contracts and public-sector contracts. Doulah is widely regarded as the region's best IP lawyers or one of the best IP lawyers in Bangladesh.

Barrister Saqeb Mahbub

He began his career at Huq and Company, a leading name in dispute resolution, before joining Mahbub & Company in 2013. He has been a catalyst for transformation at the firm, particularly in the corporate and commercial practice. Saqeb Mahbub is in charge of nearly all of the firm's high-stakes commercial arbitration matters, as well as its corporate and M&A work. He has helped the firm make significant inroads into the foreign investment and technology M&A markets.

These are just a few examples of the many talented and dedicated lawyers in Bangladesh, and there are many others who are making a positive impact in the legal profession. Whether you are seeking legal representation for a personal matter or for your business, it is important to choose a lawyer who has the experience and expertise to provide the best possible representation.

Here is a table featuring the names and locations of ten law firms in Bangladesh:

Please note that this is a general list and is not intended to be exhaustive or to endorse any particular firm. It is advisable to research and evaluate the qualifications and experience of any law firm you are considering hiring to ensure that they are the best fit for your needs.

Here are ten frequently asked questions about law firms in Bangladesh:

1. What is a law firm?
   
   A law firm is a business entity formed by one or more lawyers to practice law together. Law firms can vary in size, from small solo practices to large multi-national firms.
   
2. How are law firms structured in Bangladesh?
   
   In Bangladesh, law firms can be structured as partnerships, in which the partners share profits and responsibilities, or as sole proprietorships, in which the lawyer owns and operates the firm alone.
   
3. What services do law firms in Bangladesh offer?
   
   Law firms in Bangladesh offer a wide range of legal services to clients, including advice and representation in matters such as criminal defense, civil litigation, corporate law, and family law.
   
4. How do I choose a law firm in Bangladesh?
   
   When choosing a law firm in Bangladesh, it is important to consider factors such as the firm's reputation, experience, and areas of practice. You should also consider whether the firm's lawyers are members of the local bar association or any other professional organizations.
   
5. Do law firms in Bangladesh offer free consultations?
   
   Some law firms in Bangladesh may offer free initial consultations to potential clients, while others may charge a fee for this service. It is advisable to ask about fees and payment policies before scheduling a consultation.
   
6. Can I choose a law firm based on location?
   
   Yes, you can choose a law firm based on location if it is convenient for you to visit the firm in person. However, keep in mind that many law firms in Bangladesh offer virtual consultations and may be able to represent clients remotely if necessary.
   
7. How do law firms in Bangladesh charge for their services?
   
   Law firms in Bangladesh typically charge for their services on an hourly basis or through a flat fee structure. Some firms may also offer contingency fee arrangements, in which the lawyer is paid a percentage of any settlement or award obtained for the client.
   
8. Can I switch law firms if I am not satisfied with the representation I am receiving?
   
   Yes, you have the right to switch law firms if you are not satisfied with the representation you are receiving. However, you should carefully consider the consequences of changing firms, including any potential impact on your case and the cost of switching firms.
   
9. Can law firms in Bangladesh represent clients in other countries?
   
   Yes, law firms in Bangladesh can represent clients in other countries, depending on the specific laws and regulations in those countries and the firm's areas of practice. It is advisable to discuss your legal needs with the firm to determine if they are able to assist you.
   
10. How can I find a law firm in Bangladesh that specializes in a particular area of law?
    
    You can find a law firm in Bangladesh that specializes in a particular area of law by searching online directories or contacting the local bar association or legal professional organization. You can also ask for recommendations from other professionals or friends who have experience with law firms in Bangladesh.

Additionally You can find the other lawyers in Bangladesh from respective wiki pages:

Bank Guarantee Process in Bangladesh

by Tahmidur Remura Wahid | Dec 30, 2022 | 2023, Law

Bank Guarantee Process in Bangladesh:

The Bank guarantee process in Bangladesh or performance guarantees are very popular and important in the era of mega development projects taking place in Bangladesh. As a result, this article will provide a comprehensive guideline on the concept of bank guarantee as well as the legal rules governing bank guarantees in Bangladesh.

A "contract of guarantee" is a contract to perform a third person's promise or discharge his liability in the event of his default. The person who gives the guarantee is called the "surety": the person in respect of whose default the guarantee is given is called the "principal debtor", and the person to whom the guarantee is given is called the "creditor". Similarly, when a bank provides any security, that security is referred to as the bank guarantee.

A bank guarantee means that the bank will ensure that the third party's liabilities are met. In other words, for Bank Guarantee Process in Bangladesh, if the third party fails to meet its obligations, the bank will make up the difference. In summary, a bank guarantee can be defined as described above; however, the meaning of a bank guarantee is much broader than this.

In Bangladesh, the term "bank guarantee" has been defined in a large number of case laws. Nonetheless, in the most recent case, ABB India Limited vs. Power Grid Company of Bangladesh Limited and others of 2020, clear guidelines on bank guarantee issues were provided. As a result, our article will be based on the interpretations of this case, as well as references to other recent bank guarantee cases.

In regards to Bank Guarantee Process in Bangladesh, the term "bank guarantee" has been defined in a large number of case laws. Nonetheless, in the most recent case, ABB India Limited vs. Power Grid Company of Bangladesh Limited and others of 2020, clear guidelines on bank guarantee issues were provided. As a result, our article will be based on the interpretations of this case, as well as references to other recent bank guarantee cases.

How is a Bank Guarantee Created as per Bank Guarantee Process in Bangladesh?

The steps for creating a bank guarantee are summarised below.

(i) The applicant requests that the bank serve as a guarantee for their performance

(ii). The bank then enters into an agreement with the beneficiary at the applicant's request.

(iii) In the deed of bank guarantee, the bank guarantees to pay the beneficiary a fixed amount specified in the deed of bank guarantee on demand if the applicant fails to perform as per the contract.

Bank Guarantees Explained

A bank guarantee is a promise made by a lending institution to cover a loss if a borrower defaults on a loan. The guarantee allows a company to purchase items that it would not be able to afford otherwise, promoting business growth and entrepreneurship.

Bank guarantees come in various forms, including direct and indirect guarantees. In foreign or domestic business, banks typically use direct guarantees issued directly to the beneficiary. Direct guarantees are used when the bank's security does not rely on the main obligation's existence, validity, and enforceability.

Individuals frequently choose direct guarantees for international and cross-border transactions because they are less formal and can be more easily adapted to foreign legal systems and practices.

Indirect guarantees are most common in the export business, particularly when government agencies or public entities are the beneficiaries. Many countries refuse to accept foreign banks and guarantors due to legal concerns or other formalities. With an indirect guarantee, a second bank, typically a foreign bank with a branch in the beneficiary's country of residence, is used.

Bank Guarantee Examples:

In regards to Bank Guarantee Process in Bangladesh, There are numerous types of bank guarantees due to their general nature:

• A payment guarantee ensures that the purchase price is paid on time.
• An advance payment guarantee serves as collateral for reimbursing the buyer's advance payment if the seller fails to supply the specified goods per the contract.
• A credit security bond serves as collateral for loan repayment.
• A rental guarantee is used to secure rental agreement payments.
• A confirmed payment order is an irrevocable obligation in which the bank pays the beneficiary a predetermined amount on the client's behalf on a specific date.
• A performance bond serves as collateral for the buyer's costs if services or goods are not provided in accordance with the contract.
• A warranty bond acts as collateral to ensure that ordered goods are delivered on time.

Company A, for example, is a new restaurant that wants to spend $3 million on kitchen equipment. Before shipping the equipment to Company A, the equipment vendor requires a bank guarantee to cover payments. Company A asks the lending institution that manages its cash accounts for a guarantee. In essence, the bank cosigns the purchase contract with the vendor.

A bank guarantee program is also available from the World Bank. The World Bank's project-based loan guarantees protect commercial lenders from payment defaults or failures by governments to meet performance obligations.

Bank Guarantee Types

There are two types of bank guarantees that are commonly used in business:

Financial Security

In most cases, for Bank Guarantee Process in Bangladesh these guarantees are issued in lieu of security deposits. Some contracts may require the buyer to make a financial commitment, such as a security deposit. Instead of depositing the money, the buyer can provide the seller with a financial bank guarantee, which will compensate the seller in the event of a loss.

Performance Warranty

These guarantees are given in exchange for the performance of a contract or obligation. The bank will make good the beneficiary's loss if there is a default in the performance, non-performance, or short performance of a contract.

For example, A signs a contract with B to complete a specific project, and the contract is backed up by a bank guarantee. If A fails to complete the project on time and does not compensate B for the loss, B may seek compensation from the bank using the bank guarantee.

Considerations before entering into a Bank Guarantee Agreement

When a beneficiary enters into a bank guarantee agreement, it is critical that the following factors are properly considered, particularly when foreign entities obtain bank guarantees from banks outside their home country. The following are the key points to consider:

(i) Bank guarantee agreement terms and conditions

(ii) Terms and conditions relating to the extension of a bank guarantee, such as the process for extending the guarantee period, the number of times it can be extended, and so on (

iv) What documentation is required for a bank guarantee?

(v) The time required for the encashment of a bank guarantee.

(vi). If the bank guarantee agreement contains an arbitration clause. This clause aids in the resolution of any dispute in a timely manner.

(vii). It is also critical to investigate the authenticity and dependability of the bank that will act as the beneficiary's guarantor.

Bank Guarantee Regulations

According to Bangladeshi case law and Bank Guarantee Process in Bangladesh, the most important thing to remember about bank guarantees is that they are an independent deed of the contract between the bank and the beneficiary, even if the bank enters into the contract at the request of a third party (applicant).

The following are a few key points to remember regarding bank guarantees from the recent case ABB India Limited vs. Power Grid Company of Bangladesh Limited and others of 2020:

(i) A bank guarantee is a legally binding agreement between the bank and the beneficiary.

(ii) The applicant is not a party to the bank guarantee agreement for the Bank Guarantee Process in Bangladesh.

(iii) The bank guarantee agreement is independent and distinct from the beneficiary-applicant agreement (iv). A bank guarantee is an irrevocable undertaking given by a bank to pay an amount in favor of its beneficiary as and when the beneficiary makes a demand on the underlying contract, without regard to any dispute between the applicant and the beneficiary.

(v) Whenever the beneficiary makes a demand to encash the bank guarantee, the bank is obligated to pay the money immediately.

(vi) A guarantor's undertaking to pay under the guarantee is not subject to any claims or defenses based on any relationship or contract between the third party and the beneficiary.

(vii). As a result, there is no way to prevent its encashment by the bank, let alone a third party. Because the third-party/applicant is not a party to the bank guarantee agreement, this is the case.

(viii) Bank guarantee encashment cannot be barred on the basis of financial loss or business reputation because financial claims can always be resolved in arbitration.

(ix) In a number of cases, the court has extended the bank guarantee period even after it had expired while the court proceedings were in progress. In the case of Loyal Shipping (Pvt.) Ltd. vs. M.V. Anangel Wisdom and others, the court ordered an extension of the bank guarantee even though the request for an extension of the validity of the bank guarantee or for a new bank guarantee was made after the expiry of the previous bank guarantee.

Exceptions to the Bank Guarantee Law

The bank can only stop the encashment of a bank guarantee if a dispute is raised. Only the bank has the authority to file a valid and genuine dispute regarding the encashment of a bank guarantee if-

I the wrong person invokes the bank guarantee's encashment; or (ii). Any other discrepancy in the bank guarantee is discovered by the bank.

Exception to Bank Guarantee Approved by the Court

In general, no injunction can be granted to prevent the encashment of a bank guarantee. According to ABB India Ltd vs Power Grid Company of Bangladesh Ltd and others (2020), the court has the authority to halt the encashment of a bank guarantee only when-

(i) Clearly fraudulent preparation of the bank guarantee (Himadri Chemicals Industries Limited vs Coal Tar Refining Company (2007) 8 SCC 110). and

(ii) If successful, the encashment will cause irreparable harm that cannot be reimbursed or recovered (U.P. Coop, Federation Ltd vs Singh Consultants and Engineers (P) Ltd (1988) 1 SCC 174).

Our country's courts will grant injunctions over any civil dispute, such as a bank guarantee, if the applicant can show that there is an arguable case for the applicant and the loss cannot be recovered or reimbursed. Read the reference to the bank guarantee.

Difference between BG & Letter of Credit (LOC)

LOC is a financial document that requires the bank to pay the beneficiary upon completion of certain services as specified by the applicant. LOCs are issued by banks when a buyer requests that his bank pay the seller upon receipt of certain goods or services.

That is, if the buyer encounters cash flow issues or other similar situations and is unable to make an immediate payment to the seller, he will approach his bank and request that payment be made to the seller upon submission of certain documents. It is important to note that a bank guarantee is not the same as a letter of credit, although with both instruments the issuing bank accepts a customer's liability if the customer defaults.

The bank will later recover the amount paid from the buyer, as well as the applicable charges. In contrast, under BG, the bank is only required to pay the third-party if the applicant fails to pay the third-party or fails to fulfill the contract's required obligations.

A BG is essentially used to protect a seller from loss or damage caused by the other party's failure to perform under a contract. LOC is frequently confused with BG because they share some characteristics. When the parties to the transactions do not have established business relationships, they both play an important role in trade financing. However, there are numerous distinctions between LOC and BG.

The following are the primary distinctions between a Letter of Credit (LOC) and a Bank Guarantee (BG):

Major differences between Letter of Credit (LOC) and Bank Guarantee (BG) are as follows:

Hire the best law firm in Bangladesh to get help in regards to provisions relating to Bank Guarantee in Bangladesh:

Barristers, Advocates, and lawyers at Tahmidur Rahman Remura Wahid in Gulshan, Dhaka, Bangladesh are extremely experienced in regards to Bank Guarantee Process in Bangladesh: Tahmidur Rahman Remura's Barristers, Advocates, and Lawyers in Gulshan, Dhaka, Bangladesh are highly experienced in assisting clients through the entire process and legal provisions relating to Bank Guarantee in Bangladesh. Do you require service in regards to Bank Guarantee Process in Bangladesh? Please contact us if you require legal assistance.

Email at: info@trfirm.com
Call us on: +8801847220062 or +8801779127165
Address: House 410, Road 29, Mohakhali DOHS