Letter of Credit refinancing enables exporters to secure full contract-value financing in US dollar contracts with specified bank procedures. Exim Bank's US dollar Letter of Credit Refinancing Facility with Bank Markazi allows refinancing of letters of credit for eligible exports to Iran, requires contracts in US dollars and a minimum LC size, prescribes designated issuing and advising/negotiating banks and a documentary flow where advising banks forward non-negotiable conforming documents to Exim Bank for reimbursement, mandates a specified LC clause and refinancing tenor, requires GR/SDF/SOFTEX declarations with a prescribed superscription, limits agency commission except in specified after-sales-service cases subject to prior approval, and is issued under the Foreign Exchange Management Act.