Line of credit for export financing enables tractors' exports under specified timelines and FEMA directions. A foreign currency Line of Credit by Exim Bank finances export of SAME tractors and related items, effective October 27, 2006, with Letters of Credit opening and disbursement terminal dates set at twenty-four and thirty months respectively; shipments must be declared on GR/SDF forms, no agency commission is payable under the LOC though exporters may use own funds or EEFC balances for commission subject to AD Category-I banks' post-realisation approval, and the circular is issued under sections 10(4) and 11(1) of the Foreign Exchange Management Act without prejudice to other required permissions.
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Line of credit for export financing enables tractors' exports under specified timelines and FEMA directions.
A foreign currency Line of Credit by Exim Bank finances export of SAME tractors and related items, effective October 27, 2006, with Letters of Credit opening and disbursement terminal dates set at twenty-four and thirty months respectively; shipments must be declared on GR/SDF forms, no agency commission is payable under the LOC though exporters may use own funds or EEFC balances for commission subject to AD Category-I banks' post-realisation approval, and the circular is issued under sections 10(4) and 11(1) of the Foreign Exchange Management Act without prejudice to other required permissions.
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