Line of Credit to foreign government sets export eligibility and sourcing conditions for financed infrastructure procurement. A Line of Credit of USD 52 million from Exim Bank to the Government of Togo finances procurement of goods, machinery, equipment and services (including consultancy) from India for a 161 kV transmission project. At least 75 per cent of contract value must be supplied from India; up to 25 per cent may be procured abroad. The Credit Agreement is effective from September 16, 2014; LC opening and disbursement deadlines 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 under the LOC, though exporters may use own funds or EEFC balances subject to AD bank compliance under FEMA.
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 to foreign government sets export eligibility and sourcing conditions for financed infrastructure procurement.
A Line of Credit of USD 52 million from Exim Bank to the Government of Togo finances procurement of goods, machinery, equipment and services (including consultancy) from India for a 161 kV transmission project. At least 75 per cent of contract value must be supplied from India; up to 25 per cent may be procured abroad. The Credit Agreement is effective from September 16, 2014; LC opening and disbursement deadlines 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 under the LOC, though exporters may use own funds or EEFC balances subject to AD bank compliance under FEMA.
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