Line of Credit enables export financing to Hungary with prescribed documentation, limited commission for after sales service, and prior approval. Exim Bank's Line of Credit finances exports of capital and engineering goods, technologies, industrial manufactures and related services to the Hungarian Export Import Bank; shipments must be declared on GR/SDF forms. Agency commission is generally not payable, but Reserve Bank may permit limited commission for exports requiring after sales service subject to prior approval and payment in Hungary by invoice deduction, with the reimbursable amount to the negotiating bank calculated after commission deduction and application of the prescribed reimbursement percentage. Exporters must fund any other commission from their own resources.
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 enables export financing to Hungary with prescribed documentation, limited commission for after sales service, and prior approval.
Exim Bank's Line of Credit finances exports of capital and engineering goods, technologies, industrial manufactures and related services to the Hungarian Export Import Bank; shipments must be declared on GR/SDF forms. Agency commission is generally not payable, but Reserve Bank may permit limited commission for exports requiring after sales service subject to prior approval and payment in Hungary by invoice deduction, with the reimbursable amount to the negotiating bank calculated after commission deduction and application of the prescribed reimbursement percentage. Exporters must fund any other commission from their own resources.
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