https://www.taxtmi.com/circulars?id=2112 A Line of Credit from Exim Bank to PTA Bank finances eligible Indian exports to sixteen PTA member countries, covering capital goods, machinery, industrial manufactures and consumer durables. The circular sets deadlines for opening letters of credit and final disbursement, requires shipment declarations on GR/SDF forms, and prescribes commission rules: ordinarily no agency commission; exceptional approval may allow commission up to five percent for after sales service, payable in the borrower country by deduction from invoice, with reimbursement to negotiating banks equal to ninety percent of invoice value minus commission; prior approval is required. en-us Wed, 27 Oct 2004 00:00:00 +0530 Sat, 04 Oct 2008 12:35:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=2112 A Line of Credit from Exim Bank to PTA Bank finances eligible Indian exports to sixteen PTA member countries, covering capital goods, machinery, industrial manufactures and consumer durables. The circular sets deadlines for opening letters of credit and final disbursement, requires shipment declarations on GR/SDF forms, and prescribes commission rules: ordinarily no agency commission; exceptional approval may allow commission up to five percent for after sales service, payable in the borrower country by deduction from invoice, with reimbursement to negotiating banks equal to ninety percent of invoice value minus commission; prior approval is required. Circulars FEMA Wed, 27 Oct 2004 00:00:00 +0530 https://www.taxtmi.com/circulars?id=2112