Line of credit export finance: prescribed approval, LC mechanics, inspection and reimbursement procedures under foreign exchange directions. Reserve Bank of India directs that Exim Bank's line of credit to the Export Import Bank of Thailand may finance exports from India subject to prior Exim Bank approval, contracts in U.S. dollars meeting a minimum size, financing up to a specified percentage of f.o.b./c.&f./c.i.f. contract value, buyer advance payment and balance under an irrevocable letter of credit advised through designated negotiating bank offices in India, required pre shipment inspection certificates, reimbursement procedures for negotiating banks in dollars, allocation of bank charges between seller and buyer, procedural GR/SDF declarations, and limited agency commission subject to prior approval.
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Provisions expressly mentioned in the judgment/order text.
Line of credit export finance: prescribed approval, LC mechanics, inspection and reimbursement procedures under foreign exchange directions.
Reserve Bank of India directs that Exim Bank's line of credit to the Export Import Bank of Thailand may finance exports from India subject to prior Exim Bank approval, contracts in U.S. dollars meeting a minimum size, financing up to a specified percentage of f.o.b./c.&f./c.i.f. contract value, buyer advance payment and balance under an irrevocable letter of credit advised through designated negotiating bank offices in India, required pre shipment inspection certificates, reimbursement procedures for negotiating banks in dollars, allocation of bank charges between seller and buyer, procedural GR/SDF declarations, and limited agency commission subject to prior approval.
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