Indo-Sri Lanka Credit Agreement dated July 3, 2002, for US$ 31 Million

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....it Agreement datedJuly 3, 2002, for US$ 31 Million The Government of India have extended a line of credit of US$ 31 million (U.S.Dollar Thirtyone million only) to the Government of the Democratic Socialist Republic of Sri Lanka under a credit agreement entered into between the two Governments on July 3, 2002. The credit of US $ 31 million will be available to the Government of Sri Lanka for impor....

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....pproval. After each contract has been approved, intimation thereof will be sent to the Government of Sri Lanka and to the State Bank of India, New Delhi by the Ministry of Finance, Government of India. b. The credit will be available for 100 per cent of the f.o.b. value of the eligible goods to be exported from India. The value of the contract shall be expressed in U.S. Dollars. c. All disburs....

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....gotiable after State Bank of India has issued an advice that it is operative." 3. Contracts to be financed under this agreement for export of the eligible goods should be signed and relative letters of credit established on or before December 31, 2003, and the full amount be drawn under the credit on or before December 31, 2004. If the full amount is not drawn by the aforesaid dates, the balance ....