Line of Credit for project exports mandates majority India sourcing and time-limited LC/disbursement windows under FEMA directions. Exim Bank's Line of Credit to Banco Exterior de Cuba finances a fertilizer plant with a requirement that at least 75% of contract value for goods and services be sourced from India and up to 25% may be procured abroad. The Credit Agreement is effective from February 2015 and prescribes LC/disbursement deadlines: 48 months from scheduled completion for project exports and 72 months from agreement execution for supply contracts. Shipments must be declared on EDF/SDF forms. No agency commission is payable under the LOC, though exporters may remit commission from own funds or EEFC balances after realisation, subject to existing rules; AD Category-I banks must notify exporters and may seek details from Exim Bank. Directions are issued 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 for project exports mandates majority India sourcing and time-limited LC/disbursement windows under FEMA directions.
Exim Bank's Line of Credit to Banco Exterior de Cuba finances a fertilizer plant with a requirement that at least 75% of contract value for goods and services be sourced from India and up to 25% may be procured abroad. The Credit Agreement is effective from February 2015 and prescribes LC/disbursement deadlines: 48 months from scheduled completion for project exports and 72 months from agreement execution for supply contracts. Shipments must be declared on EDF/SDF forms. No agency commission is payable under the LOC, though exporters may remit commission from own funds or EEFC balances after realisation, subject to existing rules; AD Category-I banks must notify exporters and may seek details from Exim Bank. Directions are issued under FEMA.
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