9911796707
TMI BlogExim Bank’s Line of Credit of US$ 10 million to Banco Industrial de Venezuela (BIV), VenezuelaX X X X Extracts X X X X X X X X Extracts X X X X ..... ggregate sum of US$ 10 million (U.S. Dollar Ten Million only). The credit has become effective from May 10, 2002, and is available for financing Indian export of eligible goods (listed in the Annexure) and related services to buyers in the borrower's country i.e. Venezuela. The eligible goods will also include initial spares, drawings and designs together with services related thereto. The export of goods from India and their import into borrower's country shall be subject to the laws and regulations in force in both the countries. 2. The broad terms and conditions of the credit are as under: a. Every contract under the credit will require prior approval of Exim Bank. b. The credit shall be available for financing an amount upto 90 p ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... revocable and if required by a seller, be also divisible and transferable. 4. Upon presentation of documents by the beneficiary to the negotiating bank, the negotiating bank shall pay to the beneficiary an amount being not more than 90 percent of f.o.b./c. f./c.i.f. contract value, apportionable to the relative shipment, in equivalent Indian Rupee at the spot rate of exchange of the negotiating bank, provided the documents presented are in order and are in conformity with the relevant letter of credit. 5. Where negotiation has been effected without reserve, Exim Bank shall, upon receipt of the negotiating bank's written communication, reimburse the negotiating bank in U.S. Dollar with the amount of the eligible value to the extent app ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... eading 'Export under Exim Bank line of credit dated July 19, 2001, extended to Banco Industrial de Venezuela C.A. (BIV), Venezuela.' The number and date of this circular should be recorded in the space provided for. On receipt of full payment of the bills in the manner stated above, authorised dealer should certify the duplicate copy/ies of the relative GR/SDF Form/s and forward them to the concerned Regional Office of the Reserve Bank, in the usual manner. 11. No agency commission shall be payable in respect of exports financed under the above line of credit. However, Reserve Bank may consider on merit, requests for payment of commission upto a maximum extent of 5 per cent of the f.o.b./c. f./c.i.f. value in respect of goods specified ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... entration machinery Dairy equipment and animal feed plant Earth moving equipment like crawler tractors, shovels, excavators, loaders, dumpers etc. Edible Oil Mill machinery and oil expellers. Electric motors and pumps Electronic Data Processing equipment Fertilizer plant and equipment Flour, rice and dal mill machinery Food processing plant Foundry equipment including mould making machinery, Sand and Shot blasting equipment Freight containers Garage equipment Gas and air separation plants Glass and Ceramic machinery Heat Exchangers Integrated Steel Plants (complete or in parts), mini steel plants (electric arc and reduction furnaces). Re-heating and heat treatment furnaces, Rolling Mills and other finishing lin ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... rolling stock including locomotives, wagons, coaches and trolleys. Refractories for use in hot blast stoves, hot blast main and bustle pipes and blast furnace proper Rubber machinery Road and construction equipment including road rollers, tar boilers, continuous batch plants, stone crushers, asphalt mixers, concrete mixers and vibrators. Ships, boats, trawlers, steamers, launches, barges. Solvent extraction machinery Spraying equipment Steam, diesel and petrol engines Steel fabrication for bridges, factories etc. Steel rails and railway track equipment including sleepers, fishplates, points and crossings. Steel shuttering and scaffolding materials Steel tanks Sugar (including Khandsari) machinery Tele-communication ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... s, rods, wires, wire ropes Heating and cooling equipment including air conditioners, refrigerators, water coolers. Industrial rubber products including tyres and tubes, cots and aprons, conveyor belts, rubber rollers, hose pipes. Instruments for measurement, scientific survey and for surgical applications. Industrial fasteners, bearings, valves, gears and gaskets. X-ray and other electro-medical and other hospital equipments Office equipments including typewriters, calculators, duplicators, teleprinters. Metal and plastic furniture Hand tools, cutting tools, grinding wheels, moulds dies. Gas cylinders, fire fighting equipment, photographic equipment, helmets, including fibreglass helmets. Any other item not included abov ..... X X X X Extracts X X X X X X X X Extracts X X X X
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