Post by niseag on Aug 10, 2010 8:04:06 GMT 4
The Ministry of Trade has revoked the requirement to use letters of credit issued by a local bank for the export of certain Indonesian commodities - coal, various minerals, crude palm oil, coal, cocoa, rubber and coffee. This requirement was extremely unpopular for the additional complexity it introduced into the structuring of Indonesian commodity financing and investments, and its removal very welcome. This will considerably simplify the structuring of this aspect of Indonesian commodity deals.