Line of Credit requires majority sourcing from India and prescribes sourcing, shipment declaration, disbursement timelines, and commission rules. A Line of Credit from Exim Bank to Ethiopia finances eligible goods, services and consultancy for sugar industry development; at least 85 per cent of contract value must be supplied from India while up to 15 per cent (excluding consultancy) may be procured abroad. Agreement dated January 27, 2009 (effective June 1, 2009) sets LC/disbursement deadlines-48 months from project completion for project exports and 72 months from execution for supply contracts. Shipments must be declared on GR/SDF forms. No agency commission is payable under the LOC; exporters may use own funds or EEFC balances for commission after realization, subject to AD Category I bank compliance. Directions issued under FEMA sections 10(4) and 11(1).
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Provisions expressly mentioned in the judgment/order text.
Line of Credit requires majority sourcing from India and prescribes sourcing, shipment declaration, disbursement timelines, and commission rules.
A Line of Credit from Exim Bank to Ethiopia finances eligible goods, services and consultancy for sugar industry development; at least 85 per cent of contract value must be supplied from India while up to 15 per cent (excluding consultancy) may be procured abroad. Agreement dated January 27, 2009 (effective June 1, 2009) sets LC/disbursement deadlines-48 months from project completion for project exports and 72 months from execution for supply contracts. Shipments must be declared on GR/SDF forms. No agency commission is payable under the LOC; exporters may use own funds or EEFC balances for commission after realization, subject to AD Category I bank compliance. Directions issued under FEMA sections 10(4) and 11(1).
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