Line of Credit facility for export financing to a foreign borrower with designated eligible goods, deadlines and commission controls. The Reserve Bank notifies that Export Import Bank has provided a line of credit to the Seychelles Marketing Board to finance exports of listed eligible goods, initial spares and related services to buyers in the borrower's country. The circular sets terminal dates for opening letters of credit and utilisation, requires GR/SDF declaration of shipments, restricts agency commission subject to limited approval and invoiced deduction in the borrower's country, directs authorised dealers to inform exporters, and cites the Foreign Exchange Management Act, 1999 as the legal basis.
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 facility for export financing to a foreign borrower with designated eligible goods, deadlines and commission controls.
The Reserve Bank notifies that Export Import Bank has provided a line of credit to the Seychelles Marketing Board to finance exports of listed eligible goods, initial spares and related services to buyers in the borrower's country. The circular sets terminal dates for opening letters of credit and utilisation, requires GR/SDF declaration of shipments, restricts agency commission subject to limited approval and invoiced deduction in the borrower's country, directs authorised dealers to inform exporters, and cites the Foreign Exchange Management Act, 1999 as the legal basis.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 
Join Channel
TaxTMI 
