Line of Credit supports eligible export services requiring majority India-sourced supply and defined disbursement timelines. A Government of India supported Line of Credit by Exim Bank to Burundi finances a detailed project report for an Integrated Food Processing Complex; services must be eligible under the Foreign Trade Policy and at least 75% of the contract price for services must be supplied by the seller from India with the remainder allowed from outside. The LOC became effective December 20, 2016; letters of credit and disbursements are subject to specified timelines (48 months for project export contracts from scheduled completion dates and 72 months for supply contracts from execution) and shipments must be declared per Reserve Bank instructions. No agency commission is payable under the LOC, but exporters may remit commission from own funds or EEFC balances after realization subject to prevailing rules.
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 supports eligible export services requiring majority India-sourced supply and defined disbursement timelines.
A Government of India supported Line of Credit by Exim Bank to Burundi finances a detailed project report for an Integrated Food Processing Complex; services must be eligible under the Foreign Trade Policy and at least 75% of the contract price for services must be supplied by the seller from India with the remainder allowed from outside. The LOC became effective December 20, 2016; letters of credit and disbursements are subject to specified timelines (48 months for project export contracts from scheduled completion dates and 72 months for supply contracts from execution) and shipments must be declared per Reserve Bank instructions. No agency commission is payable under the LOC, but exporters may remit commission from own funds or EEFC balances after realization subject to prevailing rules.
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