Line of Credit conditions: Exim Bank credit to Vietnam requires majority Indian content and FEMA compliance. Exim Bank's Line of Credit to Vietnam finances eligible Indian exports for two projects, requiring at least 75% of the contract price to be supplied from India and permitting up to 25% of non consultancy goods and services to be procured abroad. The Credit Agreement is effective from December 27, 2013, with specified deadlines for opening Letters of Credit and disbursements for project and supply contracts; shipments must be declared on GR/SDF Forms. No agency commission is payable under the LOC, though exporters may pay commission from own resources or EEFC balances subject to realization and prevailing instructions.
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Provisions expressly mentioned in the judgment/order text.
Line of Credit conditions: Exim Bank credit to Vietnam requires majority Indian content and FEMA compliance.
Exim Bank's Line of Credit to Vietnam finances eligible Indian exports for two projects, requiring at least 75% of the contract price to be supplied from India and permitting up to 25% of non consultancy goods and services to be procured abroad. The Credit Agreement is effective from December 27, 2013, with specified deadlines for opening Letters of Credit and disbursements for project and supply contracts; shipments must be declared on GR/SDF Forms. No agency commission is payable under the LOC, though exporters may pay commission from own resources or EEFC balances subject to realization and prevailing instructions.
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