Line of Credit conditions for project exports: local content requirement, LC/disbursement timelines, and FEMA compliance. Exim Bank's Line of Credit to the Republic of Congo finances the Ketende Hydroelectric Project, requiring at least 75 per cent of contract value for goods and services to be supplied from India and eligible under India's Foreign Trade Policy; specified timelines govern opening of Letters of Credit and disbursement for project and supply contracts, shipments must be declared on GR/SDF forms, agency commission is not payable under the LOC though exporters may remit commission from their own resources or EEFC balances after realization, and AD Category I banks must inform exporters and obtain LOC details, with directions issued under FEMA.
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Provisions expressly mentioned in the judgment/order text.
Line of Credit conditions for project exports: local content requirement, LC/disbursement timelines, and FEMA compliance.
Exim Bank's Line of Credit to the Republic of Congo finances the Ketende Hydroelectric Project, requiring at least 75 per cent of contract value for goods and services to be supplied from India and eligible under India's Foreign Trade Policy; specified timelines govern opening of Letters of Credit and disbursement for project and supply contracts, shipments must be declared on GR/SDF forms, agency commission is not payable under the LOC though exporters may remit commission from their own resources or EEFC balances after realization, and AD Category I banks must inform exporters and obtain LOC details, with directions issued under FEMA.
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