Line of Credit for export financing permits predominantly Indian supplies and a multi year utilisation period, with EDF shipment reporting. A Government supported Line of Credit finances exports for potable water rehabilitation in Sierra Leone, requiring that a substantial portion of each contract be supplied from India while permitting a limited portion to be procured abroad. The LoC has an effective date and a terminal utilisation period from project completion. Shipments must be declared in the Export Declaration Form. No agency commission is payable from the LoC; exporters may use own funds or EEFC balances to pay commission after full realisation. Authorised Dealer Category I banks must inform exporters and may permit such remittances subject to existing rules.
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 for export financing permits predominantly Indian supplies and a multi year utilisation period, with EDF shipment reporting.
A Government supported Line of Credit finances exports for potable water rehabilitation in Sierra Leone, requiring that a substantial portion of each contract be supplied from India while permitting a limited portion to be procured abroad. The LoC has an effective date and a terminal utilisation period from project completion. Shipments must be declared in the Export Declaration Form. No agency commission is payable from the LoC; exporters may use own funds or EEFC balances to pay commission after full realisation. Authorised Dealer Category I banks must inform exporters and may permit such remittances subject to existing rules.
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