Line of credit for export financing to support tractor assembly project in Gambia under FEMA permissions. A line of credit from Exim Bank to the Government of Gambia became effective May 26, 2006 to finance eligible exports for a tractor assembly project. Terminal dates for opening Letters of Credit and disbursement differ for project exports and other supply contracts; shipments must be declared on GR/SDF forms. No agency commission is payable from the credit, though exporters may use own foreign exchange or EEFC balances for commission subject to realisation and instructions. Authorised Dealer banks must notify exporters and may permit commission remittance after full payment realisation. Directions issued under sections 10(4) and 11(1) of FEMA.
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 financing to support tractor assembly project in Gambia under FEMA permissions.
A line of credit from Exim Bank to the Government of Gambia became effective May 26, 2006 to finance eligible exports for a tractor assembly project. Terminal dates for opening Letters of Credit and disbursement differ for project exports and other supply contracts; shipments must be declared on GR/SDF forms. No agency commission is payable from the credit, though exporters may use own foreign exchange or EEFC balances for commission subject to realisation and instructions. Authorised Dealer banks must notify exporters and may permit commission remittance after full payment realisation. Directions issued under sections 10(4) and 11(1) of FEMA.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 
TaxTMI 
