Line of Credit conditions require predominant Indian supply content and prescribe disbursement, documentation and commission rules. Exim Bank has extended a LOC of USD 42.61 million to the Government of Benin to finance eligible Indian-sourced goods, services, machinery, equipment and consultancy for water-supply upgrades, requiring at least 75 percent Indian supply content and permitting 25 percent foreign procurement. The LOC specifies effectiveness and disbursement timelines, mandatory GR/SDF shipment declarations, prohibition of agency commission from LOC funds (with limited exporter-funded alternatives), and directions issued under the Foreign Exchange Management Act; AD Category-I banks must inform exporters and refer them to Exim Bank for details.
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Provisions expressly mentioned in the judgment/order text.
Line of Credit conditions require predominant Indian supply content and prescribe disbursement, documentation and commission rules.
Exim Bank has extended a LOC of USD 42.61 million to the Government of Benin to finance eligible Indian-sourced goods, services, machinery, equipment and consultancy for water-supply upgrades, requiring at least 75 percent Indian supply content and permitting 25 percent foreign procurement. The LOC specifies effectiveness and disbursement timelines, mandatory GR/SDF shipment declarations, prohibition of agency commission from LOC funds (with limited exporter-funded alternatives), and directions issued under the Foreign Exchange Management Act; AD Category-I banks must inform exporters and refer them to Exim Bank for details.
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