Line of Credit support for export financing with Indian sourcing requirement and post completion utilization period. Government-supported Line of Credit by Export-Import Bank finances exports to Mozambique subject to Foreign Trade Policy; at least 75 per cent of contract value must be supplied from India, up to 25 per cent may be procured abroad. The LoC is effective from April 09, 2021 with a terminal utilization period of sixty months after scheduled project completion. Shipments must be declared in the Export Declaration Form. No agency commission is payable under the LoC; exporters may use their own funds or EEFC balances for commission and AD Category I banks may permit remittance after full realisation, subject to prevailing instructions. AD Category I banks must notify exporters and refer to Exim Bank for details.
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 support for export financing with Indian sourcing requirement and post completion utilization period.
Government-supported Line of Credit by Export-Import Bank finances exports to Mozambique subject to Foreign Trade Policy; at least 75 per cent of contract value must be supplied from India, up to 25 per cent may be procured abroad. The LoC is effective from April 09, 2021 with a terminal utilization period of sixty months after scheduled project completion. Shipments must be declared in the Export Declaration Form. No agency commission is payable under the LoC; exporters may use their own funds or EEFC balances for commission and AD Category I banks may permit remittance after full realisation, subject to prevailing instructions. AD Category I banks must notify exporters and refer to Exim Bank for details.
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