Line of Credit enables export financing subject to substantial India sourced supply and prescribed disbursement and reporting rules. Exim Bank's Line of Credit to Chad finances eligible goods, services, machinery, equipment and consultancy from India under India's Foreign Trade Policy. Contracts must source a substantial portion of supplies from India while allowing limited external procurement for non consultancy goods. The Credit Agreement is effective from July 26, 2012 with specified deadlines for opening Letters of Credit and disbursements for project and supply contracts. Shipments must be declared on GR/SDF forms. No agency commission is payable under the LOC; exporters may use own funds or EEFC balances for commission subject to realisation and AD Category I bank procedures. Directions issued under FEMA sections 10(4) and 11(1).
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Line of Credit enables export financing subject to substantial India sourced supply and prescribed disbursement and reporting rules.
Exim Bank's Line of Credit to Chad finances eligible goods, services, machinery, equipment and consultancy from India under India's Foreign Trade Policy. Contracts must source a substantial portion of supplies from India while allowing limited external procurement for non consultancy goods. The Credit Agreement is effective from July 26, 2012 with specified deadlines for opening Letters of Credit and disbursements for project and supply contracts. Shipments must be declared on GR/SDF forms. No agency commission is payable under the LOC; exporters may use own funds or EEFC balances for commission subject to realisation and AD Category I bank procedures. Directions issued under FEMA sections 10(4) and 11(1).
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