Assured Spare Parts Supply Agreements – Opening of stand-by Letters of Credit by Independent Power Producers

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....Circular No. 9 August 13. 2002 To All Authorised Dealers in Foreign Exchange Dear Sirs/Madam, Assured Spare Parts Supply Agreements - Opening of stand-by Letters of Credit by Independent Power Producers Authorised Dealers are aware that as per extant guidelines, opening of stand-by Letters of Credit is permitted only in exceptional cases, such as for import of crude oil and petro....