Line of Credit supported by the government enables export financing for railway projects subject to FEMA and export rules. A Government supported Line of Credit from Exim Bank to Mongolia finances exports for railway and related infrastructure projects, requiring at least 75 percent of goods and services value to be supplied from India and permitting the remaining 25 percent to be procured abroad. The LoC became effective August 25, 2017, carries a terminal utilization period of 60 months after project completion, requires shipment declaration on the Export Declaration Form, disallows agency commission under the LoC while permitting exporter-paid commission from own or EEFC resources subject to realization, and is issued under the Foreign Exchange Management Act.
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 supported by the government enables export financing for railway projects subject to FEMA and export rules.
A Government supported Line of Credit from Exim Bank to Mongolia finances exports for railway and related infrastructure projects, requiring at least 75 percent of goods and services value to be supplied from India and permitting the remaining 25 percent to be procured abroad. The LoC became effective August 25, 2017, carries a terminal utilization period of 60 months after project completion, requires shipment declaration on the Export Declaration Form, disallows agency commission under the LoC while permitting exporter-paid commission from own or EEFC resources subject to realization, and is issued under the Foreign Exchange Management Act.
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