Line of Credit conditions require majority Indian sourcing and set LC and disbursement timelines for project exports. Exim Bank's Line of Credit to Liberia for a Power Transmission and Distribution Project conditions financing on use of goods and services eligible under India's Foreign Trade Policy, mandates that at least 75 percent of contract value be supplied from India with up to 25 percent sourced abroad, sets distinct deadlines for opening Letters of Credit and disbursement for project exports versus supply contracts, requires GR/SDF shipment declarations, precludes payable agency commission under the LOC while permitting exporter-funded commission from own resources or EEFC balances subject to AD Category I bank compliance, and is issued under sections 10(4) and 11(1) of FEMA, 1999.
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 conditions require majority Indian sourcing and set LC and disbursement timelines for project exports.
Exim Bank's Line of Credit to Liberia for a Power Transmission and Distribution Project conditions financing on use of goods and services eligible under India's Foreign Trade Policy, mandates that at least 75 percent of contract value be supplied from India with up to 25 percent sourced abroad, sets distinct deadlines for opening Letters of Credit and disbursement for project exports versus supply contracts, requires GR/SDF shipment declarations, precludes payable agency commission under the LOC while permitting exporter-funded commission from own resources or EEFC balances subject to AD Category I bank compliance, and is issued under sections 10(4) and 11(1) of FEMA, 1999.
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