https://www.taxtmi.com/circulars?id=1839 The circular prescribes terms for an Exim Bank line of credit to finance eligible Indian exports to specified East African Development Bank member countries: Exim Bank approval is required for each contract; financing covers up to ninety percent of the contract price with a minimum contract size; contracts must provide for a ten percent advance and the balance under an irrevocable letter of credit with pre-shipment inspection and an inspection certificate. Negotiating banks pay beneficiaries in Indian Rupees on presentation of compliant documents and are reimbursed by Exim Bank in U.S. dollars pursuant to negotiated procedures, with allocation of bank charges and GR/SDF reporting requirements. en-us Fri, 20 Apr 2001 00:00:00 +0530 Fri, 03 Oct 2008 12:33:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=1839 The circular prescribes terms for an Exim Bank line of credit to finance eligible Indian exports to specified East African Development Bank member countries: Exim Bank approval is required for each contract; financing covers up to ninety percent of the contract price with a minimum contract size; contracts must provide for a ten percent advance and the balance under an irrevocable letter of credit with pre-shipment inspection and an inspection certificate. Negotiating banks pay beneficiaries in Indian Rupees on presentation of compliant documents and are reimbursed by Exim Bank in U.S. dollars pursuant to negotiated procedures, with allocation of bank charges and GR/SDF reporting requirements. Circulars FEMA Fri, 20 Apr 2001 00:00:00 +0530 https://www.taxtmi.com/circulars?id=1839