Government-supported line of credit requires majority Indian content and prescribes shipment declarations, disbursement timelines, and commission rules. Government-supported Line of Credit finances eligible goods, machinery, equipment and services for a power project, requiring suppliers to source a majority of contract value from India while permitting limited external procurement for non-consultancy items. The agreement fixes effective and disbursement timelines with separate windows for project exports and other supplies. Shipments must be declared on prescribed EDF/SDF forms. Agency commission is not payable under the LOC, though exporters may use their own funds or Exchange Earners' Foreign Currency Account balances for commissions subject to AD Category I bank approval and prevailing remittance instructions. Directions derive from foreign exchange statutory powers.
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.
Government-supported line of credit requires majority Indian content and prescribes shipment declarations, disbursement timelines, and commission rules.
Government-supported Line of Credit finances eligible goods, machinery, equipment and services for a power project, requiring suppliers to source a majority of contract value from India while permitting limited external procurement for non-consultancy items. The agreement fixes effective and disbursement timelines with separate windows for project exports and other supplies. Shipments must be declared on prescribed EDF/SDF forms. Agency commission is not payable under the LOC, though exporters may use their own funds or Exchange Earners' Foreign Currency Account balances for commissions subject to AD Category I bank approval and prevailing remittance instructions. Directions derive from foreign exchange statutory powers.
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