Line of Credit conditions require majority Indian sourcing and regulatory compliance for exports under the LOC. Line of Credit of USD 25.5 million by Exim Bank to Cote d'Ivoire finances eligible goods, services and consultancy from India, requiring at least 85% of contract value supplied from India and permitting 15% foreign procurement (excluding consultancy). The Agreement (executed June 18, 2008; effective October 3, 2008) sets LC/disbursement deadlines-48 months from project completion for projects and 72 months from execution for supply contracts. Shipments must be declared on GR/SDF forms. No agency commission under the LOC; exporters may pay commission from own funds or EEFC balances after realization under prevailing remittance rules. Directions issued under FEMA and subject to other legal approvals.
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Provisions expressly mentioned in the judgment/order text.
Line of Credit conditions require majority Indian sourcing and regulatory compliance for exports under the LOC.
Line of Credit of USD 25.5 million by Exim Bank to Cote d'Ivoire finances eligible goods, services and consultancy from India, requiring at least 85% of contract value supplied from India and permitting 15% foreign procurement (excluding consultancy). The Agreement (executed June 18, 2008; effective October 3, 2008) sets LC/disbursement deadlines-48 months from project completion for projects and 72 months from execution for supply contracts. Shipments must be declared on GR/SDF forms. No agency commission under the LOC; exporters may pay commission from own funds or EEFC balances after realization under prevailing remittance rules. Directions issued under FEMA and subject to other legal approvals.
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