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Line of Credit enables financing of eligible exports for technology transfer, subject to Indian-content and FEMA compliance. A Line of Credit from Exim Bank to Mozambique finances eligible exports and consultancy for water drilling technology transfer; at least 85 per cent of contract value (excluding consultancy) must be supplied from India, with the balance permissible from outside India. The Credit Agreement fixes windows for opening Letters of Credit and disbursement for project and supply contracts. Shipments must be declared on GR/SDF forms. No agency commission is payable under the facility, though exporters may use their own funds or EEFC balances to pay commission in free foreign exchange subject to AD Category I bank compliance. Directions are issued under FEMA without prejudice to other statutory approvals.
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Provisions expressly mentioned in the judgment/order text.
Line of Credit enables financing of eligible exports for technology transfer, subject to Indian-content and FEMA compliance.
A Line of Credit from Exim Bank to Mozambique finances eligible exports and consultancy for water drilling technology transfer; at least 85 per cent of contract value (excluding consultancy) must be supplied from India, with the balance permissible from outside India. The Credit Agreement fixes windows for opening Letters of Credit and disbursement for project and supply contracts. Shipments must be declared on GR/SDF forms. No agency commission is payable under the facility, though exporters may use their own funds or EEFC balances to pay commission in free foreign exchange subject to AD Category I bank compliance. Directions are issued under FEMA without prejudice to other statutory approvals.
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