Line of Credit financing for defence equipment procurement requires majority India sourced supplies and FEMA compliance. Exim Bank's Line of Credit to Mauritius finances procurement of eligible goods, machinery, equipment and services from India for specialised defence related equipment and vehicles; sellers must supply a majority of the contract value from India with up to 25 percent procured abroad. The Agreement was executed February 12, 2014 and effective May 15, 2014; last dates for Letters of Credit and disbursement are 48 months from scheduled completion for project exports and 72 months from execution for supply contracts. Shipments must be declared on GR/SDF forms; no agency commission is payable under the LOC, subject to FEMA compliance.
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 financing for defence equipment procurement requires majority India sourced supplies and FEMA compliance.
Exim Bank's Line of Credit to Mauritius finances procurement of eligible goods, machinery, equipment and services from India for specialised defence related equipment and vehicles; sellers must supply a majority of the contract value from India with up to 25 percent procured abroad. The Agreement was executed February 12, 2014 and effective May 15, 2014; last dates for Letters of Credit and disbursement are 48 months from scheduled completion for project exports and 72 months from execution for supply contracts. Shipments must be declared on GR/SDF forms; no agency commission is payable under the LOC, subject to FEMA compliance.
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