Line of Credit financing for exports to PTA member countries enables majority contract value reimbursement under irrevocable letters of credit. Exim Bank extended a Line of Credit to PTA Bank to finance exports of eligible goods and related services from India to PTA member countries. Contracts require Exim Bank's prior approval, must be in U.S. dollars with an agreed minimum value, and provide for an advance payment by the buyer with the balance paid pro rata under an irrevocable letter of credit conforming to UCP. Negotiating banks in India may pay the financed portion in rupees on presentation of compliant documents and are reimbursed by Exim Bank in U.S. dollars according to negotiation terms.
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 to PTA member countries enables majority contract value reimbursement under irrevocable letters of credit.
Exim Bank extended a Line of Credit to PTA Bank to finance exports of eligible goods and related services from India to PTA member countries. Contracts require Exim Bank's prior approval, must be in U.S. dollars with an agreed minimum value, and provide for an advance payment by the buyer with the balance paid pro rata under an irrevocable letter of credit conforming to UCP. Negotiating banks in India may pay the financed portion in rupees on presentation of compliant documents and are reimbursed by Exim Bank in U.S. dollars according to negotiation terms.
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