Line of Credit terms for export finance set sourcing, disbursement timelines, documentation, and agency commission restrictions. Exim Bank's Line of Credit to Benin finances eligible Indian goods, services, machinery and consultancy for a tractor assembly and farm equipment plant; at least 75 percent of contract value must be supplied from India and up to 25 percent may be procured abroad. The Credit Agreement is effective from February 28, 2013 (execution date August 23, 2012). Letters of Credit and disbursements must comply with prescribed timelines (48 months from project completion for project exports; 72 months from agreement execution for supply contracts). Shipments require GR/SDF declaration. No agency commission is payable; remittances for commission may be made from exporter resources or EEFC balances subject to realisation and AD Category-I bank compliance. Directions issued under FEMA sections 10(4) and 11(1).
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Line of Credit terms for export finance set sourcing, disbursement timelines, documentation, and agency commission restrictions.
Exim Bank's Line of Credit to Benin finances eligible Indian goods, services, machinery and consultancy for a tractor assembly and farm equipment plant; at least 75 percent of contract value must be supplied from India and up to 25 percent may be procured abroad. The Credit Agreement is effective from February 28, 2013 (execution date August 23, 2012). Letters of Credit and disbursements must comply with prescribed timelines (48 months from project completion for project exports; 72 months from agreement execution for supply contracts). Shipments require GR/SDF declaration. No agency commission is payable; remittances for commission may be made from exporter resources or EEFC balances subject to realisation and AD Category-I bank compliance. Directions issued under FEMA sections 10(4) and 11(1).
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