Exim Bank's Line of Credit for USD 5 million to Government of Angola

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....of India (Exim Bank) has concluded an agreement with the Government of Angola on February 20, 2004, making available to the latter a Line of Credit (LOC) upto an aggregate sum of USD 5 million (U.S.Dollar five million only). The credit agreement has become effective from June 16, 2004. The credit is available for financing export of goods and services, which are permitted under the 'Exim Policy' o....

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....im Bank to the negotiating bank will be 90 per cent of the f.o.b./ c&f /c.i.f value minus commission paid. Approval for the payment of commission should be obtained before the relevant shipment is effected. In other cases (i.e. exports not involving after sales service), if the exporter is required to pay agency commission, he will have to use his own resources for such payments. 5. Authorised De....