Line of credit for Indian capital goods exports to Cambodia, financing the bulk via letters of credit with importer contribution. A Government of India line of credit to the Royal Government of Cambodia finances imports of Indian capital goods, spare parts and related project and consultancy services on an f.o.b. basis covering the financed portion of approved contracts. Disbursements are made under letters of credit opened by Cambodian banks and advised to the State Bank of India; each letter of credit must contain a reimbursement clause and be supported by a negotiating bank's certificate confirming receipt of the importer's direct payment. Contracts and letters of credit must be established and drawn within prescribed timelines; shipments must be declared on specified export forms. Agency commission is restricted and prior approval is required for exceptions.
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 for Indian capital goods exports to Cambodia, financing the bulk via letters of credit with importer contribution.
A Government of India line of credit to the Royal Government of Cambodia finances imports of Indian capital goods, spare parts and related project and consultancy services on an f.o.b. basis covering the financed portion of approved contracts. Disbursements are made under letters of credit opened by Cambodian banks and advised to the State Bank of India; each letter of credit must contain a reimbursement clause and be supported by a negotiating bank's certificate confirming receipt of the importer's direct payment. Contracts and letters of credit must be established and drawn within prescribed timelines; shipments must be declared on specified export forms. Agency commission is restricted and prior approval is required for exceptions.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.