https://www.taxtmi.com/circulars?id=1941 Exim Bank extended a Line of Credit to PTA Bank to finance exports of eligible goods and related services from India to PTA member countries. Contracts require Exim Bank's prior approval, must be in U.S. dollars with an agreed minimum value, and provide for an advance payment by the buyer with the balance paid pro rata under an irrevocable letter of credit conforming to UCP. Negotiating banks in India may pay the financed portion in rupees on presentation of compliant documents and are reimbursed by Exim Bank in U.S. dollars according to negotiation terms. en-us Tue, 12 Nov 2002 00:00:00 +0530 Fri, 03 Oct 2008 15:43:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=1941 Exim Bank extended a Line of Credit to PTA Bank to finance exports of eligible goods and related services from India to PTA member countries. Contracts require Exim Bank's prior approval, must be in U.S. dollars with an agreed minimum value, and provide for an advance payment by the buyer with the balance paid pro rata under an irrevocable letter of credit conforming to UCP. Negotiating banks in India may pay the financed portion in rupees on presentation of compliant documents and are reimbursed by Exim Bank in U.S. dollars according to negotiation terms. Circulars FEMA Tue, 12 Nov 2002 00:00:00 +0530 https://www.taxtmi.com/circulars?id=1941