Line of Credit conditions require a substantial majority of supplies from India and set prescribed L/C and disbursement timelines. Exim Bank granted a Line of Credit of USD 300 million to Ethiopia for the Asaita-Tadjourah railway to finance eligible goods, machinery, equipment and services from India, subject to a local content requirement that a substantial majority of contract value be supplied from India. The Agreement (executed June 13, 2013; effective July 15, 2013) sets distinct L/C and disbursement timelines for project exports and supply contracts, requires GR/SDF shipment declarations, disallows agency commission under the LOC while permitting exporter-funded commission remittances subject to AD bank compliance, and is issued under FEMA authority.
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Provisions expressly mentioned in the judgment/order text.
Line of Credit conditions require a substantial majority of supplies from India and set prescribed L/C and disbursement timelines.
Exim Bank granted a Line of Credit of USD 300 million to Ethiopia for the Asaita-Tadjourah railway to finance eligible goods, machinery, equipment and services from India, subject to a local content requirement that a substantial majority of contract value be supplied from India. The Agreement (executed June 13, 2013; effective July 15, 2013) sets distinct L/C and disbursement timelines for project exports and supply contracts, requires GR/SDF shipment declarations, disallows agency commission under the LOC while permitting exporter-funded commission remittances subject to AD bank compliance, and is issued under FEMA authority.
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