Line of Credit terms for export finance permit limited commission for after sales service, subject to prior approval and documentation. Reserve Bank directions under FEMA authorize an Exim Bank line of credit to ABSA Bank for financing Category A and B exports and other agreed items, effective December 30, 2003, with specified terminal dates for opening letters of credit and utilisation; shipments must be declared on GR/SDF forms. Agency commission is not payable under the facility except that Reserve Bank may permit up to five percent commission for exports requiring after sales service, subject to prior approval, invoice deduction in South Africa, and adjustment of the reimbursable amount.
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 terms for export finance permit limited commission for after sales service, subject to prior approval and documentation.
Reserve Bank directions under FEMA authorize an Exim Bank line of credit to ABSA Bank for financing Category A and B exports and other agreed items, effective December 30, 2003, with specified terminal dates for opening letters of credit and utilisation; shipments must be declared on GR/SDF forms. Agency commission is not payable under the facility except that Reserve Bank may permit up to five percent commission for exports requiring after sales service, subject to prior approval, invoice deduction in South Africa, and adjustment of the reimbursable amount.
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