Line of credit facility permits export finance under Exim Policy with commission restrictions and specified reimbursement and disbursement conditions. A Line of Credit up to USD 50 million finances exports of capital goods, plant and machinery, industrial manufactures, consumer durables and other Exim Policy eligible items; shipments must be declared on GR/SDF forms. No agency commission is payable under the credit except that Reserve Bank may permit up to five percent commission for exports requiring after sales service, payable in the borrower country by deduction from the invoice, and Exim Bank's reimbursable amount to the negotiating bank will be ninety percent of the f.o.b./c.&f./c.i.f. value minus commission. Approval for commission must be obtained before shipment.
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Provisions expressly mentioned in the judgment/order text.
Line of credit facility permits export finance under Exim Policy with commission restrictions and specified reimbursement and disbursement conditions.
A Line of Credit up to USD 50 million finances exports of capital goods, plant and machinery, industrial manufactures, consumer durables and other Exim Policy eligible items; shipments must be declared on GR/SDF forms. No agency commission is payable under the credit except that Reserve Bank may permit up to five percent commission for exports requiring after sales service, payable in the borrower country by deduction from the invoice, and Exim Bank's reimbursable amount to the negotiating bank will be ninety percent of the f.o.b./c.&f./c.i.f. value minus commission. Approval for commission must be obtained before shipment.
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