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Line of Credit for export finance to PTA member markets with specified documentation and limited agency commission rules. A Line of Credit from Exim Bank to PTA Bank finances eligible Indian exports to sixteen PTA member countries, covering capital goods, machinery, industrial manufactures and consumer durables. The circular sets deadlines for opening letters of credit and final disbursement, requires shipment declarations on GR/SDF forms, and prescribes commission rules: ordinarily no agency commission; exceptional approval may allow commission up to five percent for after sales service, payable in the borrower country by deduction from invoice, with reimbursement to negotiating banks equal to ninety percent of invoice value minus commission; prior approval is required.
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Line of Credit for export finance to PTA member markets with specified documentation and limited agency commission rules.
A Line of Credit from Exim Bank to PTA Bank finances eligible Indian exports to sixteen PTA member countries, covering capital goods, machinery, industrial manufactures and consumer durables. The circular sets deadlines for opening letters of credit and final disbursement, requires shipment declarations on GR/SDF forms, and prescribes commission rules: ordinarily no agency commission; exceptional approval may allow commission up to five percent for after sales service, payable in the borrower country by deduction from invoice, with reimbursement to negotiating banks equal to ninety percent of invoice value minus commission; prior approval is required.
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