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TMI BlogIndo-Suriname Credit Agreement dated March 17, 2003, for USD 10 MillionX X X X Extracts X X X X X X X X Extracts X X X X ..... Government of Suriname, for importing from India capital goods of Indian manufacture including original spare parts and accessories purchased along with the capital goods and included in the original contract as also consultancy services and project exports including services as mentioned in the Annexure. The contents of Annexure may be modified by way of additions, deletions or substitutions from time to time as may be mutually agreed upon between the two Governments. The credit will not cover third country imports. The export of goods and services from India and their import into Suriname under the line of credit shall take place through normal commercial channels and will be subject to the laws and regulations in force in both the countr ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... er letters of credit will be adopted to ensure that the remaining 10 per cent of the amount of letter of credit is received in US Dollars. All claims to the State Bank of India for payment of 90 per cent of the f.o.b. value will need to be supported by a certificate of the negotiating bank that the 10 per cent amount directly payable has been received. The letters of credit should be supported by a copy of the contract and should contain the following reimbursement clause :- "Reimbursement for 90 per cent of the f.o.b. value of the contract shall be provided by the State Bank of India, New Delhi from USD 10 million credit extended by the Government of India to the Government of Suriname. The letter of credit is negotiable after the State ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ing "Exports to Suriname under Credit Agreement dated March 17, 2003 between the Government of India and the Government of Suriname." The number and date of this circular should be recorded on the GR/SDF/SOFTEX Forms in the space provided therefor. On receipt of the full payment of the bills in the manner indicated above, authorised dealers should certify duplicate copies of the relative GR/SDF/SOFTEX Form. 4. Ordinarily, no agency commission shall be payable in respect of exports financed under the 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. value in respect of capital goods which require after sales service. In such cases, commission wi ..... X X X X Extracts X X X X X X X X Extracts X X X X
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