Line of Credit terms require 75% Indian sourcing and specified disbursement timelines for financed exports to Mauritius. Exim Bank's Line of Credit finances eligible goods, machinery, equipment and services (including consultancy) from India for Mauritius' acquisition of Waterjet Fast Attack Craft; at least 75% of contract value must be supplied from India and up to 25% may be procured outside India. The Credit Agreement (executed May 5, 2014; effective July 28, 2014) sets disbursement/LC opening deadlines-48 months from scheduled completion for project exports and 72 months from execution for supply contracts-and requires GR/SDF declaration of shipments. No agency commission is payable under the LOC; exporters may use own resources or EEFC balances for commission after realisation, subject to AD bank compliance. Directions issued under FEMA sections 10(4) and 11(1).
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Provisions expressly mentioned in the judgment/order text.
Line of Credit terms require 75% Indian sourcing and specified disbursement timelines for financed exports to Mauritius.
Exim Bank's Line of Credit finances eligible goods, machinery, equipment and services (including consultancy) from India for Mauritius' acquisition of Waterjet Fast Attack Craft; at least 75% of contract value must be supplied from India and up to 25% may be procured outside India. The Credit Agreement (executed May 5, 2014; effective July 28, 2014) sets disbursement/LC opening deadlines-48 months from scheduled completion for project exports and 72 months from execution for supply contracts-and requires GR/SDF declaration of shipments. No agency commission is payable under the LOC; exporters may use own resources or EEFC balances for commission after realisation, subject to AD bank compliance. Directions issued under FEMA sections 10(4) and 11(1).
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