Line of Credit requires majority India sourced supplies and EDF/SDF compliance, with commission remittance from exporter resources. Exim Bank extended a Line of Credit to the Government of the Republic of Gambia to finance eligible Indian exports for replacement of asbestos water pipes; eligible supplies must be majority India-sourced, with differing time-limits for Letters of Credit and disbursement for project versus supply contracts. Shipments must be declared on EDF/SDF forms. No agency commission is payable under the LOC, though exporters may remit commission from their own resources or Exchange Earners' Foreign Currency Account balances after realization, subject to prevailing instructions. Directions issued under FEMA do not affect other required approvals.
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 requires majority India sourced supplies and EDF/SDF compliance, with commission remittance from exporter resources.
Exim Bank extended a Line of Credit to the Government of the Republic of Gambia to finance eligible Indian exports for replacement of asbestos water pipes; eligible supplies must be majority India-sourced, with differing time-limits for Letters of Credit and disbursement for project versus supply contracts. Shipments must be declared on EDF/SDF forms. No agency commission is payable under the LOC, though exporters may remit commission from their own resources or Exchange Earners' Foreign Currency Account balances after realization, subject to prevailing instructions. Directions issued under FEMA do not affect other required approvals.
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