Line of credit financing for exports: 90% pre-shipment coverage with 10% buyer advance under irrevocable letters of credit. Exim Bank's line of credit finances Indian exports of specified goods and related services to buyers in the borrower's country, subject to domestic laws; contracts require Exim Bank approval, must be in U.S. dollars and meet a minimum value, and may be financed up to 90 per cent of the f.o.b./c.& f./c.i.f. price with a 10 per cent buyer advance and the balance paid pro rata under an irrevocable letter of credit. Negotiating banks may pay beneficiaries in Indian Rupees against conforming documents (including inspection certificates) and are reimbursed by Exim Bank in U.S. dollars according to whether negotiations were effected with or without reserve.
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 for exports: 90% pre-shipment coverage with 10% buyer advance under irrevocable letters of credit.
Exim Bank's line of credit finances Indian exports of specified goods and related services to buyers in the borrower's country, subject to domestic laws; contracts require Exim Bank approval, must be in U.S. dollars and meet a minimum value, and may be financed up to 90 per cent of the f.o.b./c.& f./c.i.f. price with a 10 per cent buyer advance and the balance paid pro rata under an irrevocable letter of credit. Negotiating banks may pay beneficiaries in Indian Rupees against conforming documents (including inspection certificates) and are reimbursed by Exim Bank in U.S. dollars according to whether negotiations were effected with or without reserve.
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