Line of credit for export financing requires GR/SDF declarations and permits commission payment from exporter resources after realisation. Exim Bank extended a Line of Credit to Myanma Foreign Trade Bank to finance exports for renovation of the Thanlyin Refinery; the agreement is effective from October 23, 2006, with utilisation periods set at 48 months after project completion for project exports and until August 16, 2012 for supply contracts. 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 after realisation; AD Category I banks must notify exporters and facilitate compliance under regulatory directions.
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Provisions expressly mentioned in the judgment/order text.
Line of credit for export financing requires GR/SDF declarations and permits commission payment from exporter resources after realisation.
Exim Bank extended a Line of Credit to Myanma Foreign Trade Bank to finance exports for renovation of the Thanlyin Refinery; the agreement is effective from October 23, 2006, with utilisation periods set at 48 months after project completion for project exports and until August 16, 2012 for supply contracts. 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 after realisation; AD Category I banks must notify exporters and facilitate compliance under regulatory directions.
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