Line of Credit for agricultural projects requires majority India sourced supplies and FEMA governed procedural compliance. Exim Bank extended a Line of Credit to the Government of the Republic of Cameroon to finance specified maize and rice plantation projects, requiring at least 85 percent of contract value for goods and services to be supplied from India with up to 15 percent non consultancy goods procured outside India; shipments must be declared on GR/SDF forms, Letters of Credit and disbursements are subject to specified time limits, no agency commission is payable under the LOC though exporters may use own funds or EEFC balances for commission after realization, and AD Category I banks must notify exporters pursuant to directions under FEMA sections 10(4) and 11(1).
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Provisions expressly mentioned in the judgment/order text.
Line of Credit for agricultural projects requires majority India sourced supplies and FEMA governed procedural compliance.
Exim Bank extended a Line of Credit to the Government of the Republic of Cameroon to finance specified maize and rice plantation projects, requiring at least 85 percent of contract value for goods and services to be supplied from India with up to 15 percent non consultancy goods procured outside India; shipments must be declared on GR/SDF forms, Letters of Credit and disbursements are subject to specified time limits, no agency commission is payable under the LOC though exporters may use own funds or EEFC balances for commission after realization, and AD Category I banks must notify exporters pursuant to directions under FEMA sections 10(4) and 11(1).
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