Line of Credit conditions require predominant domestic sourcing, specified LC/disbursement timelines, and regulated commission remittance. Exim Bank's Line of Credit to Ethiopia finances exports for sugar projects with at least 85 per cent of contract value to be supplied from India; remaining goods (other than consultancy) may be procured abroad. The agreement sets deadlines for opening Letters of Credit and disbursements for project and supply contracts, requires GR/SDF shipment declarations, disallows agency commission under the LOC while permitting exporter-funded commission remittances after full realisation, and directs AD Category - I banks to inform exporters. Directions are issued under FEMA and do not override other legal permissions.
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 conditions require predominant domestic sourcing, specified LC/disbursement timelines, and regulated commission remittance.
Exim Bank's Line of Credit to Ethiopia finances exports for sugar projects with at least 85 per cent of contract value to be supplied from India; remaining goods (other than consultancy) may be procured abroad. The agreement sets deadlines for opening Letters of Credit and disbursements for project and supply contracts, requires GR/SDF shipment declarations, disallows agency commission under the LOC while permitting exporter-funded commission remittances after full realisation, and directs AD Category - I banks to inform exporters. Directions are issued under FEMA and do not override other legal permissions.
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