Line of Credit availability for export finance establishes utilisation timelines and declarations under foreign exchange rules. A Line of Credit from Exim Bank to the Government of Niger finances exports from India eligible under the Foreign Trade Policy, became effective on August 30, 2006, and prescribes utilisation periods: 48 months from scheduled completion for project exports and until February 7, 2012 for supply contracts. Shipments must be declared on GR/SDF forms. No agency commission is payable under the LOC, though exporters may use their own funds or EEFC balances to pay commission after realisation of full contract value, subject to prevailing instructions and Authorised Dealer Category I bank compliance.
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Provisions expressly mentioned in the judgment/order text.
Line of Credit availability for export finance establishes utilisation timelines and declarations under foreign exchange rules.
A Line of Credit from Exim Bank to the Government of Niger finances exports from India eligible under the Foreign Trade Policy, became effective on August 30, 2006, and prescribes utilisation periods: 48 months from scheduled completion for project exports and until February 7, 2012 for supply contracts. Shipments must be declared on GR/SDF forms. No agency commission is payable under the LOC, though exporters may use their own funds or EEFC balances to pay commission after realisation of full contract value, subject to prevailing instructions and Authorised Dealer Category I bank compliance.
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