https://www.taxtmi.com/circulars?id=1845 Exim Bank made a line of credit available to BIAT to finance eligible exports to Tunisia: contracts require Exim Bank approval, U.S. dollar denomination, a specified minimum value, and financing of up to ninety per cent of the f.o.b./c.i.f./c&f contract price. Payment terms require a ten per cent buyer advance and the balance under an irrevocable letter of credit with pre shipment inspection and inspection certificates. Negotiating banks may pay beneficiaries in Indian Rupees at spot rates and obtain reimbursement from Exim Bank in U.S. dollars subject to reserve rules; Exim Bank disclaims liability for negotiating banks. Shipments must follow GR/SDF procedures, commission rules are restricted, and directions are issued under Sections 10(4) and 11(1) of FEMA. en-us Sat, 14 Jul 2001 00:00:00 +0530 Fri, 03 Oct 2008 12:41:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=1845 Exim Bank made a line of credit available to BIAT to finance eligible exports to Tunisia: contracts require Exim Bank approval, U.S. dollar denomination, a specified minimum value, and financing of up to ninety per cent of the f.o.b./c.i.f./c&f contract price. Payment terms require a ten per cent buyer advance and the balance under an irrevocable letter of credit with pre shipment inspection and inspection certificates. Negotiating banks may pay beneficiaries in Indian Rupees at spot rates and obtain reimbursement from Exim Bank in U.S. dollars subject to reserve rules; Exim Bank disclaims liability for negotiating banks. Shipments must follow GR/SDF procedures, commission rules are restricted, and directions are issued under Sections 10(4) and 11(1) of FEMA. Circulars FEMA Sat, 14 Jul 2001 00:00:00 +0530 https://www.taxtmi.com/circulars?id=1845