Line of Credit for export financing enables Indian exports to PTA Bank member countries with operative dates and commission rules. Exim Bank provided a Line of Credit to PTA Bank to finance exports of goods and services eligible under India's Foreign Trade Policy to PTA regional members. The agreement is effective from August 25, 2010, with terminal dates for opening Letters of Credit and for disbursements set at 36 and 42 months respectively. Shipments must be declared on GR/SDF forms. Agency commission is ordinarily not payable, but RBI may permit up to 5% for exports requiring after sales service, payable by deduction from the invoice and with the reimbursable amount to the negotiating bank being 90% of the f.o.b./c&f/c.i.f. value minus commission; exporters may otherwise use own or EEFC funds and AD Category I banks must inform exporters.
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 for export financing enables Indian exports to PTA Bank member countries with operative dates and commission rules.
Exim Bank provided a Line of Credit to PTA Bank to finance exports of goods and services eligible under India's Foreign Trade Policy to PTA regional members. The agreement is effective from August 25, 2010, with terminal dates for opening Letters of Credit and for disbursements set at 36 and 42 months respectively. Shipments must be declared on GR/SDF forms. Agency commission is ordinarily not payable, but RBI may permit up to 5% for exports requiring after sales service, payable by deduction from the invoice and with the reimbursable amount to the negotiating bank being 90% of the f.o.b./c&f/c.i.f. value minus commission; exporters may otherwise use own or EEFC funds and AD Category I banks must inform exporters.
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