https://www.taxtmi.com/circulars?id=1928 Exim Bank's line of credit finances Indian exports of specified goods and related services to buyers in the borrower's country, subject to domestic laws; contracts require Exim Bank approval, must be in U.S. dollars and meet a minimum value, and may be financed up to 90 per cent of the f.o.b./c.& f./c.i.f. price with a 10 per cent buyer advance and the balance paid pro rata under an irrevocable letter of credit. Negotiating banks may pay beneficiaries in Indian Rupees against conforming documents (including inspection certificates) and are reimbursed by Exim Bank in U.S. dollars according to whether negotiations were effected with or without reserve. en-us Fri, 11 Oct 2002 00:00:00 +0530 Fri, 03 Oct 2008 15:20:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=1928 Exim Bank's line of credit finances Indian exports of specified goods and related services to buyers in the borrower's country, subject to domestic laws; contracts require Exim Bank approval, must be in U.S. dollars and meet a minimum value, and may be financed up to 90 per cent of the f.o.b./c.& f./c.i.f. price with a 10 per cent buyer advance and the balance paid pro rata under an irrevocable letter of credit. Negotiating banks may pay beneficiaries in Indian Rupees against conforming documents (including inspection certificates) and are reimbursed by Exim Bank in U.S. dollars according to whether negotiations were effected with or without reserve. Circulars FEMA Fri, 11 Oct 2002 00:00:00 +0530 https://www.taxtmi.com/circulars?id=1928