KARACHI - State Bank of Pakistan has issued the revised procedure for the payment of refunds to the exporters under the Export Finance Scheme. A circular issued on Friday said that to further streamline the mechanism of processing of refund cases, the revised procedure for refund has been issued. SBP said that in view of the spirit of the Scheme and refund of fine policy, force majeure event shall be considered as the fundamental factor for non-performance in deciding refund cases. Under the revised refund procedure, exporters are required to submit their request for refund of fine charged on account of non/short/delayed shipment under part-I and short/non-performance under part-II along with documentary evidence clearly indicating the reasons of failure through the bank concerned. The documentary evidences will support in determining the force majeure event.