TaxTMI 
TaxTMI 
Indo-Sri Lanka Credit Agreement dated March 23, 2004 for USD 25 Million
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....t of India have made available the third tranche of USD 25 million (U.S .Dollar Twenty five 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 has been signed by the two Governments on March 23, 2004. The credit of USD ....
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..... 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 sent to the Ministry of Finance, Department of Economic Affairs, Government o....
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....er 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 the 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 25 million credit extended by the Government of India to the Government of Sri Lanka. The letter of c....