Line of Credit terms for government exports require India-origin supplies, utilisation limits, GR/SDF reporting and commission rules. Exim Bank provided a Line of Credit to finance eligible project and supply contracts for Sudan, requiring at least 85% of the contract price to be supplied from India or be of Indian origin. The Credit Agreement is effective from late March 2007 with specified terminal utilisation periods for project and supply contracts; shipments must be declared on GR/SDF forms. No agency commission is payable under this LOC, though exporters may remit commission from their own resources or EEFC balances after full realisation and compliance with prevailing rules. Directions are issued under FEMA and AD Category I banks must inform exporters and obtain full details from Exim Bank.
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 terms for government exports require India-origin supplies, utilisation limits, GR/SDF reporting and commission rules.
Exim Bank provided a Line of Credit to finance eligible project and supply contracts for Sudan, requiring at least 85% of the contract price to be supplied from India or be of Indian origin. The Credit Agreement is effective from late March 2007 with specified terminal utilisation periods for project and supply contracts; shipments must be declared on GR/SDF forms. No agency commission is payable under this LOC, though exporters may remit commission from their own resources or EEFC balances after full realisation and compliance with prevailing rules. Directions are issued under FEMA and AD Category I banks must inform exporters and obtain full details from Exim Bank.
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