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Line of Credit for project exports requires majority India-sourced supplies and compliance with FEMA export formalities. Exim Bank's Line of Credit to Cameroon finances eligible Indian goods, services, machinery, equipment and consultancy for a plantation project, requiring at least 75 per cent of each contract price to be supplied from India and permitting up to 25 per cent procurement outside India; shipments must be declared on GR/SDF forms, no agency commission is payable under the LOC (exporters may use own or EEFC funds subject to realization), and AD Category I banks must notify exporters and permit remittances in compliance with prevailing instructions. Directions are issued under FEMA.
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Provisions expressly mentioned in the judgment/order text.
Line of Credit for project exports requires majority India-sourced supplies and compliance with FEMA export formalities.
Exim Bank's Line of Credit to Cameroon finances eligible Indian goods, services, machinery, equipment and consultancy for a plantation project, requiring at least 75 per cent of each contract price to be supplied from India and permitting up to 25 per cent procurement outside India; shipments must be declared on GR/SDF forms, no agency commission is payable under the LOC (exporters may use own or EEFC funds subject to realization), and AD Category I banks must notify exporters and permit remittances in compliance with prevailing instructions. Directions are issued under FEMA.
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