Line of Credit terms require majority sourcing from India and set LC/disbursement timelines with FEMA compliance. Exim Bank extended a Line of Credit to the Government of Lao People's Democratic Republic to finance eligible goods, services, machinery and consultancy from India for storage dam and irrigation projects, requiring at least 75 percent of contract value to be supplied from India and allowing up to 25 percent procured externally. The agreement sets LC/disbursement timeframes for project and supply contracts, mandates GR/SDF declaration of shipments, disallows agency commission under the LOC while permitting exporter-paid commission from own resources or EEFC after realisation subject to AD Category I compliance, and is issued under provisions of FEMA.
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Provisions expressly mentioned in the judgment/order text.
Line of Credit terms require majority sourcing from India and set LC/disbursement timelines with FEMA compliance.
Exim Bank extended a Line of Credit to the Government of Lao People's Democratic Republic to finance eligible goods, services, machinery and consultancy from India for storage dam and irrigation projects, requiring at least 75 percent of contract value to be supplied from India and allowing up to 25 percent procured externally. The agreement sets LC/disbursement timeframes for project and supply contracts, mandates GR/SDF declaration of shipments, disallows agency commission under the LOC while permitting exporter-paid commission from own resources or EEFC after realisation subject to AD Category I compliance, and is issued under provisions of FEMA.
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