https://www.taxtmi.com/news?id=2204 Exim Bank's Lines of Credit (LOC) let overseas borrowers support imports from India on deferred credit; exporters may obtain non-recourse payment upon negotiation of shipping documents. The process: LOC agreement with the borrower; borrower approval and Exim Bank concurrence for contracts; importer arranges advance and a Letter of Credit referencing the LOC; exporter ships and negotiates documents with a designated negotiating bank; Exim Bank reimburses the negotiating bank by debiting the borrower's LOC account; the borrower repays Exim Bank on due dates. en-us Sat, 03 Sep 2011 16:59:11 +0530 Sat, 03 Sep 2011 16:59:11 +0530 TaxTMI RSS Generator https://www.taxtmi.com/news?id=2204 Exim Bank's Lines of Credit (LOC) let overseas borrowers support imports from India on deferred credit; exporters may obtain non-recourse payment upon negotiation of shipping documents. The process: LOC agreement with the borrower; borrower approval and Exim Bank concurrence for contracts; importer arranges advance and a Letter of Credit referencing the LOC; exporter ships and negotiates documents with a designated negotiating bank; Exim Bank reimburses the negotiating bank by debiting the borrower's LOC account; the borrower repays Exim Bank on due dates. News - Sat, 03 Sep 2011 16:59:11 +0530 https://www.taxtmi.com/news?id=2204