Government backed Line of Credit for export finance imposes 75% India sourcing and EDF declaration requirements. A Government of India supported Line of Credit (LoC) from Exim Bank to Ghana finances export of eligible goods and services for a sugarcane development and irrigation project, requiring at least 75% of contract value to be supplied from India and allowing 25% procurement from abroad. The LoC is effective from July 7, 2017 with a terminal utilisation period of 60 months after scheduled completion. Shipments must be declared on the Export Declaration Form; no agency commission is payable under the LoC though exporters may remit commission from their own resources or EEFC balances subject to AD Category I bank compliance. Directions are issued under Section 10(4) and Section 11(1) of FEMA.
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 backed Line of Credit for export finance imposes 75% India sourcing and EDF declaration requirements.
A Government of India supported Line of Credit (LoC) from Exim Bank to Ghana finances export of eligible goods and services for a sugarcane development and irrigation project, requiring at least 75% of contract value to be supplied from India and allowing 25% procurement from abroad. The LoC is effective from July 7, 2017 with a terminal utilisation period of 60 months after scheduled completion. Shipments must be declared on the Export Declaration Form; no agency commission is payable under the LoC though exporters may remit commission from their own resources or EEFC balances subject to AD Category I bank compliance. Directions are issued under Section 10(4) and Section 11(1) of FEMA.
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