Exim Bank's Line of Credit (LOC) of USD 5 million to Nigerian Export-Import Bank

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....Dealer Banks Madam / Sir, Export-Import Bank of India (Exim Bank) has concluded an agreement dated September 14, 2007 with the Nigerian Export-Import Bank, making available to the latter, a Line of Credit (LOC) of USD 5 million (USD Five million only) for financing export of capital and engineering goods, industrial manufactures, consumer durables, commodities and services including consulta....

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..... 4. While no agency commission shall be payable in respect of exports financed under the above line of credit, the Reserve Bank may consider, on merit, requests for payment of commission up to a maximum of 5 per cent of the f.o.b / c&f / c.i.f. value in respect of goods exported and which require after sales service. In such cases, commission will have to be paid by deduction from the invoice ....