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Line of Credit enables exporters to finance eligible project and supply contracts under specified export finance timelines. Exim Bank's US dollar line of credit to the Government of Ghana finances exports in agriculture, rural electrification, transportation and communication eligible under the Foreign Trade Policy. The facility specifies terminal dates for opening Letters of Credit and disbursement timelines for project and supply contracts, requires shipment declaration on GR/SDF forms, disallows agency commission under the LOC (while permitting exporters to use own funds or EEFC balances for commission subject to realisation and compliance), and is issued under Sections 10(4) and 11(1) of the Foreign Exchange Management Act, 1999.
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Provisions expressly mentioned in the judgment/order text.
Line of Credit enables exporters to finance eligible project and supply contracts under specified export finance timelines.
Exim Bank's US dollar line of credit to the Government of Ghana finances exports in agriculture, rural electrification, transportation and communication eligible under the Foreign Trade Policy. The facility specifies terminal dates for opening Letters of Credit and disbursement timelines for project and supply contracts, requires shipment declaration on GR/SDF forms, disallows agency commission under the LOC (while permitting exporters to use own funds or EEFC balances for commission subject to realisation and compliance), and is issued under Sections 10(4) and 11(1) of the Foreign Exchange Management Act, 1999.
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