Indo-Myanmar Credit Agreement dated November 17, 2000 for US$ 15 million

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... the Government of the Union of Myanmar for import from India of capital goods of Indian manufacture, consultancy services and consumer durables as specified in the Annexure. The contents of the Annexure may be modified by way of additions, deletions, or substitutions from time to time as may be mutually agreed to between the two Governments. The credit will not cover third country imports. The export of goods from India and their import into Myanmar shall take place through normal commercial channels and 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 export contracts under the line of credit will be subject to the approval of the G .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... nment of Myanmar. The letter of credit is negotiable after the State Bank of India has issued an advice that it is operative." 3. The contracts to be financed under the credit agreement for items specified in paragraph 1 of the Annexure should be signed and relative letters of credit established by November 30, 2001. The terminal date for drawal of the full amount under the credit has been fixed as November 30, 2002. In the case of items specified in paragraph 2 of the Annexure, contracts should be signed, letters of credit opened and the full amount be drawn on or before November 30, 2001. If the full amount of the loan is not drawn by the above dates, the balance will be cancelled and the final instalment of the repayment to be made by .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... in exports to Myanmar. 7. The directions contained in this circular have been issued under Section 10(4) and Section 11(1) of the Foreign Exchange Management Act, 1999 (42 of 1999). Any contravention or non-observance of these directions is subject to the penalties prescribed under the Act. Yours faithfully P.K. BISWASChief General Manager ANNEXURE Nature of goods referred to in Indo-Myanmar Credit Agreement of 2000 Capital goods (along with original spare parts and accessories purchased with the capital goods and included in the original contract). Items eligible for coverage under this credit also include consumer durables and consultancy services. - Circular - Trade Notice - Public Notice - Instructions - Offic .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X