Line of credit for export financing to Senegal enables Indian exporters to fund irrigation project supplies under FEMA compliance. A Line of Credit from Exim Bank to the Government of Senegal finances Indian exports for Senegalese irrigation projects; the Credit Agreement is effective May 10, 2006, with terminal LC/disbursement deadlines of 48 months from scheduled completion for project exports and 72 months from execution for other supplies. Shipments must be declared on GR/SDF Forms. No agency commission is payable under the LOC, though exporters may remit commission from own funds or EEFC balances in free foreign exchange after realization, subject to prevailing instructions and Authorised Dealer bank compliance. Directions issued under Sections 10(4) and 11(1) of FEMA.
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Line of credit for export financing to Senegal enables Indian exporters to fund irrigation project supplies under FEMA compliance.
A Line of Credit from Exim Bank to the Government of Senegal finances Indian exports for Senegalese irrigation projects; the Credit Agreement is effective May 10, 2006, with terminal LC/disbursement deadlines of 48 months from scheduled completion for project exports and 72 months from execution for other supplies. Shipments must be declared on GR/SDF Forms. No agency commission is payable under the LOC, though exporters may remit commission from own funds or EEFC balances in free foreign exchange after realization, subject to prevailing instructions and Authorised Dealer bank compliance. Directions issued under Sections 10(4) and 11(1) of FEMA.
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