Line of credit financing supports export contracts with buyer advance, LC-backed staged payments and inspection requirements. Exim Bank has provided a foreign currency line of credit to Bancoldex to finance exports of listed Indian goods and related services, subject to Exim Bank approval, U.S. dollar pricing, a minimum contract value, a buyer advance and payment of the balance under an irrevocable letter of credit. Financing covers the major portion of the contract value with pre-shipment inspection and inspection certificates required. Negotiating banks may pay beneficiaries in Indian Rupees against compliant documents and be reimbursed by Exim Bank in U.S. dollars; bank charges in India are borne by the seller and those in the borrower's country by the buyer.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Line of credit financing supports export contracts with buyer advance, LC-backed staged payments and inspection requirements.
Exim Bank has provided a foreign currency line of credit to Bancoldex to finance exports of listed Indian goods and related services, subject to Exim Bank approval, U.S. dollar pricing, a minimum contract value, a buyer advance and payment of the balance under an irrevocable letter of credit. Financing covers the major portion of the contract value with pre-shipment inspection and inspection certificates required. Negotiating banks may pay beneficiaries in Indian Rupees against compliant documents and be reimbursed by Exim Bank in U.S. dollars; bank charges in India are borne by the seller and those in the borrower's country by the buyer.
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