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of <h1>Removal of USD 20 million cap on buyer's credit for deferred-payment and turnkey/project exports, permitting credits above USD 20 million</h1> Removal of the USD 20 million ceiling on buyer's credit for foreign buyers in relation to export of goods on deferred payment terms and turnkey/project exports, thereby permitting buyer's credit in excess of USD 20 million; this change operates to liberalize external commercial financing for such exports. Revision of the Memorandum of Instructions on Project and Service Exports to reflect the withdrawal of the limit; this operates to bind Authorised Dealers and participating export credit arrangements to the revised PEM and requires ADs to notify constituents of the amended guidelines.
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