Exim Bank has extended a Line of Credit (LOC) of US$ 5 million to Seychelles Marketing Board (SMB), Seychelles for financing
export of eligible Indian goods and services.
2. The Credit Agreement has become effective on December 5, 2002. Accordingly, in terms of the Credit Agreement, terminal
dates for opening letters of credit and for disbursements will be June 4, 2004 and December 4, 2004, respectively.
The salient features of the LOC facility to Seychelles Marketing Board (SMB) is placed below:
| Purpose of Credit |
To Finance Exports from India to Seychelles |
| Name and Address of the |
Seychelles Marketing Board Borrower Latanier House, Latanier Road, P
O Box 634 Mahe, Seychelles
Tel - 00 248 285000
Fax - 00 248 224735
Attention Imports Section |
| Currency of the Contract |
US$ |
| Minimum Contract Value |
US$ 50,000 |
| Advance Payment |
10% of FOB/CRF/CIF Contract Value |
| Payment out of Exim Credit |
90% of FOB/CRF/CIF Contract Value |
| Amount of Credit |
US$ 5 million |
| Date of Credit Agreement |
November 25, 2002 |
| Effective Date of Credit |
December 5, 2002 |
| Agreement |
|
| Last Date for |
|
| Opening L/C |
June 4, 2004 |
| Disbursements |
December 4, 2004 |
| Service Fee Payable by the Exporter |
Exporters should check with Exim Bank, in advance,before finalizing
the contract with the buyers, details of service fee and other charges payable by the exporters on the contract to be
covered under in above Line of Credit. |
| Eligible Items under lists The Credit Line |
(I) Category ‘A’ & ‘B’ goods (illustrative
enclosed)
(II) Any other item including raw materials and Commodities that might be agreed upon between Exim Bank and Seychelles
Marketing Board, Seychelles |
