Exim Bank’s Line of Credit of US$ 10 Million to Absolut Bank, Russia.

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.... Export-Import Bank of India (Exim Bank) has concluded an agreement with Absolut Bank, Russia making available to the latter a Line of Credit (LOC) upto an aggregate sum of USD 10 Million (US Dollar Ten Million only). The credit agreement has become effective on December 15, 2005. The credit is available for financing exports from India of any item that might be agreed upon between Exim Bank and t....

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....pect of goods exported which require after sales service. In such cases, commission will have to be paid in Russia only by deduction from the invoice of the relevant shipment and the reimbursable amount by the Exim 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 such payment of commission should be obtained before the relevant sh....