Line of Credit conditions require minimum domestic content, set L/C and disbursement timelines with restricted commission payments. The Exim Bank LOC to the Government of the Republic of Gambia conditions financing on at least 85 per cent of contract value being supplied from India, permits up to 15 per cent external procurement (excluding consultancy), requires shipment declarations on GR/SDF forms, sets distinct LC and disbursement timelines for project and supply contracts, disallows agency commission under the LOC while permitting exporter-funded commission in free foreign exchange subject to AD Category I bank compliance and realization, and is issued under the Foreign Exchange Management Act.
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Provisions expressly mentioned in the judgment/order text.
Line of Credit conditions require minimum domestic content, set L/C and disbursement timelines with restricted commission payments.
The Exim Bank LOC to the Government of the Republic of Gambia conditions financing on at least 85 per cent of contract value being supplied from India, permits up to 15 per cent external procurement (excluding consultancy), requires shipment declarations on GR/SDF forms, sets distinct LC and disbursement timelines for project and supply contracts, disallows agency commission under the LOC while permitting exporter-funded commission in free foreign exchange subject to AD Category I bank compliance and realization, and is issued under the Foreign Exchange Management Act.
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