Line of Credit terms permit financing of eligible Indian exports with predominant India-origin supply and fixed LC/disbursement timelines. Exim Bank's LOC to the Government of Rwanda finances eligible Indian goods, services and consultancy for a power project, requiring at least 85 per cent of contract value to be supplied from India with the remainder (excluding consultancy) procurable abroad; the Credit Agreement effective October 15, 2008 prescribes distinct latest dates for opening Letters of Credit and disbursement for project and supply contracts. Shipments must be declared on GR/SDF forms. No agency commission is payable under the LOC, though exporters may pay commissions from own resources or EEFC balances subject to AD Category-I bank compliance rules and FEMA directions.
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 terms permit financing of eligible Indian exports with predominant India-origin supply and fixed LC/disbursement timelines.
Exim Bank's LOC to the Government of Rwanda finances eligible Indian goods, services and consultancy for a power project, requiring at least 85 per cent of contract value to be supplied from India with the remainder (excluding consultancy) procurable abroad; the Credit Agreement effective October 15, 2008 prescribes distinct latest dates for opening Letters of Credit and disbursement for project and supply contracts. Shipments must be declared on GR/SDF forms. No agency commission is payable under the LOC, though exporters may pay commissions from own resources or EEFC balances subject to AD Category-I bank compliance rules and FEMA directions.
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