Line of Credit enables India origin exports to Mozambique subject to sourcing, disbursement timelines and FEMA compliance. A Line of Credit (LOC) of USD 250 million from Exim Bank to Mozambique finances eligible exports from India; at least 75% of contract value must be supplied from India, with up to 25% procured externally. The Credit Agreement is effective from December 26, 2012; LCs and disbursements are allowed up to 48 months from scheduled completion for project exports and 72 months from execution for supply contracts. Shipments must be declared on GR/SDF forms. No agency commission is payable under the LOC, though exporters may remit commission from their own funds or EEFC balances after realisation, subject to remittance rules. Directions issued under FEMA.
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 India origin exports to Mozambique subject to sourcing, disbursement timelines and FEMA compliance.
A Line of Credit (LOC) of USD 250 million from Exim Bank to Mozambique finances eligible exports from India; at least 75% of contract value must be supplied from India, with up to 25% procured externally. The Credit Agreement is effective from December 26, 2012; LCs and disbursements are allowed up to 48 months from scheduled completion for project exports and 72 months from execution for supply contracts. Shipments must be declared on GR/SDF forms. No agency commission is payable under the LOC, though exporters may remit commission from their own funds or EEFC balances after realisation, subject to remittance rules. Directions issued under FEMA.
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