Line of Credit to Mozambique establishes sourcing, disclosure and disbursement rules under FEMA for eligible Indian exports. Exim Bank provided a Line of Credit to Mozambique to finance eligible Indian exports for a housing project; financed goods, services and consultancy must meet Foreign Trade Policy eligibility and minimum Indian supply content (65% for goods and services; up to 75% for consultancy). The Credit Agreement effective October 4, 2013, sets differing timelines for opening Letters of Credit and disbursements for project and supply contracts. Shipments under the LOC require GR/SDF reporting. No agency commission is payable under the LOC, though exporters may pay commission from their own resources or EEFC balances subject to remittance rules. 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 to Mozambique establishes sourcing, disclosure and disbursement rules under FEMA for eligible Indian exports.
Exim Bank provided a Line of Credit to Mozambique to finance eligible Indian exports for a housing project; financed goods, services and consultancy must meet Foreign Trade Policy eligibility and minimum Indian supply content (65% for goods and services; up to 75% for consultancy). The Credit Agreement effective October 4, 2013, sets differing timelines for opening Letters of Credit and disbursements for project and supply contracts. Shipments under the LOC require GR/SDF reporting. No agency commission is payable under the LOC, though exporters may pay commission from their own resources or EEFC balances subject to remittance rules. Directions issued under FEMA.
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