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of <h1>Exim Bank of India Grants $5M Credit to Angola for Exports; Strict Deadlines and No Agency Commission.</h1> The Export-Import Bank of India has established a Line of Credit (LOC) of USD 5 million for the Government of Angola, effective from June 16, 2004. This credit is designated for financing exports of goods and services under India's Exim Policy. The deadlines for opening letters of credit and credit disbursement are June 15, 2006, and December 15, 2006, respectively. No agency commission is payable for exports under this LOC, except in cases requiring after-sales service, where a commission of up to 5% may be considered. Exporters must declare shipments on GR/SDF Forms and obtain approval for commission payments before shipment.
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