Line of Credit to foreign government permits export financing and sets utilisation, declaration, and commission remittance conditions. The circular announces an Exim Bank Line of Credit to the Government of Burkina Faso for financing eligible exports and specified construction, sets distinct utilisation periods for project and supply contracts, requires shipments to be declared on GR/SDF forms, provides that no agency commission is payable under the LOC (while allowing exporters to remit commission from own or EEFC funds subject to AD Category I bank compliance and realisation of contract value), directs AD Category I banks to notify exporters and obtain Exim Bank details, and states the directions are issued under FEMA without prejudice to other approvals.
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Provisions expressly mentioned in the judgment/order text.
Line of Credit to foreign government permits export financing and sets utilisation, declaration, and commission remittance conditions.
The circular announces an Exim Bank Line of Credit to the Government of Burkina Faso for financing eligible exports and specified construction, sets distinct utilisation periods for project and supply contracts, requires shipments to be declared on GR/SDF forms, provides that no agency commission is payable under the LOC (while allowing exporters to remit commission from own or EEFC funds subject to AD Category I bank compliance and realisation of contract value), directs AD Category I banks to notify exporters and obtain Exim Bank details, and states the directions are issued under FEMA without prejudice to other approvals.
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