Line of Credit enables export financing with prescribed Indian content and FEMA compliance for project exports. A Line of Credit from Export-Import Bank of India to the Government of Mozambique finances rehabilitation works by funding eligible goods, machinery, services and consultancy sourced mainly from India; at least 75 per cent of contract value must be supplied from India with up to 25 per cent procured abroad. The Credit Agreement fixes timelines for opening Letters of Credit and disbursement, requires GR/SDF shipment declarations, disallows agency commission under the LOC while permitting exporter-funded commission remittances, and instructs AD Category-I banks to notify exporters; directions issued under FEMA.
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 enables export financing with prescribed Indian content and FEMA compliance for project exports.
A Line of Credit from Export-Import Bank of India to the Government of Mozambique finances rehabilitation works by funding eligible goods, machinery, services and consultancy sourced mainly from India; at least 75 per cent of contract value must be supplied from India with up to 25 per cent procured abroad. The Credit Agreement fixes timelines for opening Letters of Credit and disbursement, requires GR/SDF shipment declarations, disallows agency commission under the LOC while permitting exporter-funded commission remittances, and instructs AD Category-I banks to notify exporters; directions issued under FEMA.
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