TMI BlogIndo-Seychelles Credit Agreement dated 24-2-2000 for U.S.$ 2 MillionX X X X Extracts X X X X X X X X Extracts X X X X ..... vailable to the Government of the Republic of Seychelles for importing from India capital goods of Indian manufacture including original spare parts and accessories purchased alongwith the capital goods and included in the original contract as also consultancy services and consumer durables as mentioned 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 and services from India and their import into Seychelles under the line of credit shall take place through normal commercial channels and will be subject to the laws and regulations in force ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... of credit will be adopted to ensure that the remaining 10% of the amount of the letter of credit is received in U.S. All claims to the State Bank of India for payment of 90% of the f.o.b. value will need to be supported by a certificate of the negotiating bank that the 10% 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% of the f.o.b. value of the contract shall be provided by the State Bank of India, New Delhi from US$ 2 million credit extended by the Government of the Republic of India to the Government of the Republic of Seychelles.The Letter of Credit is negotiable after State Bank of India has i ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... t should be declared on GR/SDF/SOFTEX forms with prominent superscription reading " Exports to Seychelles under Credit Agreement dated 24th February 2000 between the Government of India and the Government of Seychelles." 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 bills in the manner indicated above, authorised dealers should certify duplicate copies of the relative GR/SDF/SOFTEX form and forward the same to the concerned office/s of Reserve Bank of India in the usual manner. 4. No agency commission should be allowed in respect of exports under this credit. 5. Authorised Dealers may bring the contents of this circular to the notice o ..... X X X X Extracts X X X X X X X X Extracts X X X X
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