https://www.taxtmi.com/circulars?id=8468 Exim Bank's Line of Credit to Senegal finances eligible goods, equipment and consultancy services from India for hospital supplies, requiring the majority of contract value to be sourced from India with a limited portion permitted from abroad. The Agreement prescribes distinct timelines for opening Letters of Credit and disbursements for project and supply contracts, mandates shipment declaration on GR/SDF forms, disallows agency commission under the LOC while permitting exporter-funded commission payments subject to realization and remittance rules, and directs AD Category-I banks to inform exporters and obtain LOC particulars from Exim Bank. Directions are issued under the Foreign Exchange Management Act. en-us Wed, 05 Jan 2011 00:00:00 +0530 Mon, 03 Oct 2011 16:43:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=8468 Exim Bank's Line of Credit to Senegal finances eligible goods, equipment and consultancy services from India for hospital supplies, requiring the majority of contract value to be sourced from India with a limited portion permitted from abroad. The Agreement prescribes distinct timelines for opening Letters of Credit and disbursements for project and supply contracts, mandates shipment declaration on GR/SDF forms, disallows agency commission under the LOC while permitting exporter-funded commission payments subject to realization and remittance rules, and directs AD Category-I banks to inform exporters and obtain LOC particulars from Exim Bank. Directions are issued under the Foreign Exchange Management Act. Circulars FEMA Wed, 05 Jan 2011 00:00:00 +0530 https://www.taxtmi.com/circulars?id=8468