Indo-Sri Lanka Credit Agreement dated October 15, 2003 for USD 30 Million

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.... Lanka Credit Agreement dated October 15, 2003 for USD 30 Million The Government of India have made available the second tranche of USD 30 million (U.S .Dollar Thirty Million only) out of the line of credit of USD 100 Million extended to the Government of the Republic of Sri Lanka under the credit agreement entered into between the two Governments on January 29, 2001. An agreement to this effect ....

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....d will be subject to the laws and regulations in force in both the countries. 2. The broad terms and conditions of the line of credit are as under: (a) All contracts will be subject to the approval of the Government of India and the Government of Sri Lanka or any agency authorised for this purpose by the Government of Sri Lanka and shall contain a clause to that effect. All contracts shall be s....

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....e exporters. Normal commercial practices followed in respect of advising payments under letters of credit will be adopted. The letters of credit should be supported by a copy of the contract and should contain the following reimbursement clause: 'Reimbursement for 100 per cent of the f.o.b. value of the contract shall be provided by the State Bank of India, New Delhi from USD 30 million credit ex....