Line of credit for export finance sets documentation, commission payment rules and conditional reimbursement under foreign exchange law. Exim Bank extended a Line of Credit to the Eastern and Southern African Trade & Development Bank to finance exports from India to its member countries, with specific deadlines for letter of credit opening and disbursement, mandatory declaration of shipments on prescribed export forms, and rules on payment and reimbursement of agency commission-permiting exporters to use own resources or EEFC balances, denying ordinary reimbursement, but allowing Reserve Bank consideration for limited commission reimbursement for after sales service exports subject to prior approval and payment within member countries.
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 for export finance sets documentation, commission payment rules and conditional reimbursement under foreign exchange law.
Exim Bank extended a Line of Credit to the Eastern and Southern African Trade & Development Bank to finance exports from India to its member countries, with specific deadlines for letter of credit opening and disbursement, mandatory declaration of shipments on prescribed export forms, and rules on payment and reimbursement of agency commission-permiting exporters to use own resources or EEFC balances, denying ordinary reimbursement, but allowing Reserve Bank consideration for limited commission reimbursement for after sales service exports subject to prior approval and payment within member countries.
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