Line of Credit requires majority of contract value sourced from India, EDF/SDF reporting and restricted commission remittances. A Government of India supported Line of Credit to the Republic of Congo for a cement plant requires at least 75% of contract value for goods and services to be supplied from India, permits up to 25% non consultancy goods procurement from abroad, mandates EDF/SDF shipment declarations, prescribes differing deadlines for L/C opening and disbursement for project versus supply contracts, prohibits agency commission under the LOC while allowing exporter funded commission remittances subject to realization and compliance, and directs AD Category I banks to notify exporters; issued under 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 requires majority of contract value sourced from India, EDF/SDF reporting and restricted commission remittances.
A Government of India supported Line of Credit to the Republic of Congo for a cement plant requires at least 75% of contract value for goods and services to be supplied from India, permits up to 25% non consultancy goods procurement from abroad, mandates EDF/SDF shipment declarations, prescribes differing deadlines for L/C opening and disbursement for project versus supply contracts, prohibits agency commission under the LOC while allowing exporter funded commission remittances subject to realization and compliance, and directs AD Category I banks to notify exporters; issued under FEMA directions.
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