Indo-Cambodia Credit Agreement dated November 6, 2002 for USD 10 Million

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.... import from India of capital goods of Indian manufacture including original spare parts and accessories purchased together with the capital goods and included in the original contract as also project and consultancy services connected with the project as specified in the Annexure. The contents of the Annexure may be modified by way of additions, deletions or substitutions from time to time as may be mutually agreed to between the two Governments. The credit will not cover third country imports. The export of goods from India and their import into Cambodia shall take place through normal commercial channels and will be subject to the laws and regulations in force in both the countries. 2. The broad terms and conditions of the line of credi....

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....opted to ensure that the remaining 10 per cent of the amount of letter of credit is received in US Dollars. All claims to the State Bank of India for payment of 90 per cent of the f.o.b. value will need to be supported by a certificate of the negotiating bank that the 10 per cent directly payable has been received. Further, each letter of credit should be supported by a copy of the contract and should contain the following reimbursement clause: "Reimbursement for 90 per cent of the f.o.b. value of the contract shall be provided by the State Bank of India, New Delhi, from USD 10 million credit extended by the Government of the Republic of India to the Royal Government of Cambodia. The letter of credit is negotiable after the State Bank of ....

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....ed therefor. On receipt of the full payment of the bills in the manner indicated above, authorised dealers should certify duplicate copies of the relative GR/SDF Forms. 5. Ordinarily, no agency commission shall be payable in respect of exports financed under the line of credit. However, Reserve Bank may consider on merit, requests for payment of commission upto a maximum extent of 5 per cent of the f.o.b. value in respect of goods which require after sales service. In such cases, commission will have to be paid in Cambodia by deduction from the invoice value of the relevant shipment and the reimbursable amount will be 90 per cent of the f.o.b. value minus the commission paid. Approval for payment of commission should be obtained before the....