https://www.taxtmi.com/circulars?id=1894 Exim Bank's US dollar Letter of Credit Refinancing Facility with Bank Markazi allows refinancing of letters of credit for eligible exports to Iran, requires contracts in US dollars and a minimum LC size, prescribes designated issuing and advising/negotiating banks and a documentary flow where advising banks forward non-negotiable conforming documents to Exim Bank for reimbursement, mandates a specified LC clause and refinancing tenor, requires GR/SDF/SOFTEX declarations with a prescribed superscription, limits agency commission except in specified after-sales-service cases subject to prior approval, and is issued under the Foreign Exchange Management Act. en-us Mon, 03 Jun 2002 00:00:00 +0530 Fri, 03 Oct 2008 13:42:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=1894 Exim Bank's US dollar Letter of Credit Refinancing Facility with Bank Markazi allows refinancing of letters of credit for eligible exports to Iran, requires contracts in US dollars and a minimum LC size, prescribes designated issuing and advising/negotiating banks and a documentary flow where advising banks forward non-negotiable conforming documents to Exim Bank for reimbursement, mandates a specified LC clause and refinancing tenor, requires GR/SDF/SOFTEX declarations with a prescribed superscription, limits agency commission except in specified after-sales-service cases subject to prior approval, and is issued under the Foreign Exchange Management Act. Circulars FEMA Mon, 03 Jun 2002 00:00:00 +0530 https://www.taxtmi.com/circulars?id=1894