Exim Bank's Line of Credit (LOC) of USD 20 million to Nigerian Export-Import Bank

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..... im Bank) has concluded an agreement dated November 15, 2011 with the Nigerian Export-Import Bank , making available to the latter, a Line of Credit (LOC) of USD 20 million (USD Twenty millions) for financing exports of eligible goods and services from India. The goods and services for export under the agreement are those which are eligible for export under the Foreign Trade Policy of the Governmen .....

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..... er 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. (free on board) / c f (cost and freight)/c.i.f. (cost, insurance and freight) value in respect of goods exported and which require after sales services. In such cases, commission will have to be paid by deduction from the invoice of relevant shipment .....

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..... on. 5. AD Category-I banks may bring the contents of this circular to the notice of their exporter constituents and advise them to obtain full details of the Line of Credit from Exim Bank's office at Centre One, Floor 21, World Trade Centre Complex, Cuffe Parade, Mumbai 400 005. 6. The Directions contained in this circular have been issued under sections 10(4) and 11(1) of the Foreign Exc .....

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