Line of Credit requirements mandate 75% India-sourced supply and specified LC/disbursement timelines under FEMA directions. A Government of India supported Line of Credit to the Republic of Guinea finances hospital projects and mandates at least 75% of contract value be supplied from India with up to 25% import content. The LOC prescribes separate timelines for opening Letters of Credit and disbursement for project export and supply contracts, requires EDF/SDF shipment declarations, disallows agency commission under the LOC while permitting exporter-funded commissions under prevailing remittance rules, and directs AD Category-I banks to notify exporters; the directions are issued under FEMA provisions.
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 requirements mandate 75% India-sourced supply and specified LC/disbursement timelines under FEMA directions.
A Government of India supported Line of Credit to the Republic of Guinea finances hospital projects and mandates at least 75% of contract value be supplied from India with up to 25% import content. The LOC prescribes separate timelines for opening Letters of Credit and disbursement for project export and supply contracts, requires EDF/SDF shipment declarations, disallows agency commission under the LOC while permitting exporter-funded commissions under prevailing remittance rules, and directs AD Category-I banks to notify exporters; the directions are issued under FEMA provisions.
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