Line of Credit enables financing of eligible Indian exports under sourcing and compliance conditions for a foreign government project. Exim Bank's Line of Credit to the Government of Gambia finances eligible Indian exports, requiring at least 65 per cent of contract value to be supplied from India with up to 35 per cent procureable abroad. The Agreement is effective December 4, 2012, and provides differentiated periods for opening Letters of Credit and disbursement for project and supply contracts. Shipments must be declared on GR/SDF forms. No agency commission is payable under the LOC, though exporters may use own funds or EEFC balances to pay commission subject to AD Category I bank permission after full realization. Directions issued under FEMA remain without prejudice to other statutory approvals.
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 financing of eligible Indian exports under sourcing and compliance conditions for a foreign government project.
Exim Bank's Line of Credit to the Government of Gambia finances eligible Indian exports, requiring at least 65 per cent of contract value to be supplied from India with up to 35 per cent procureable abroad. The Agreement is effective December 4, 2012, and provides differentiated periods for opening Letters of Credit and disbursement for project and supply contracts. Shipments must be declared on GR/SDF forms. No agency commission is payable under the LOC, though exporters may use own funds or EEFC balances to pay commission subject to AD Category I bank permission after full realization. Directions issued under FEMA remain without prejudice to other statutory approvals.
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