Line of Credit financing allows up to ninety percent export credit under UCP documentary conditions with specified contractual and documentary safeguards. Exim Bank's credit to Bancomext finances eligible Indian exports subject to Exim Bank approval, U.S. dollar contracts above a minimum value, and financing of up to 90% of f.o.b./c.&f./c.i.f. price with a 10% buyer advance. Shipments are covered by irrevocable letters of credit advised through designated negotiating banks in India, subject to UCP (1994); documents must include inspection certificates. Negotiating banks may pay in rupees up to 90% on presentation; Exim Bank reimburses in U.S. dollars under specified conditions. GR/SDF declarations and prescribed procedural requirements apply.
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Provisions expressly mentioned in the judgment/order text.
Line of Credit financing allows up to ninety percent export credit under UCP documentary conditions with specified contractual and documentary safeguards.
Exim Bank's credit to Bancomext finances eligible Indian exports subject to Exim Bank approval, U.S. dollar contracts above a minimum value, and financing of up to 90% of f.o.b./c.&f./c.i.f. price with a 10% buyer advance. Shipments are covered by irrevocable letters of credit advised through designated negotiating banks in India, subject to UCP (1994); documents must include inspection certificates. Negotiating banks may pay in rupees up to 90% on presentation; Exim Bank reimburses in U.S. dollars under specified conditions. GR/SDF declarations and prescribed procedural requirements apply.
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