Line of Credit for export financing mandates majority India-sourced supplies, specified LC timelines, and FEMA compliance. Exim Bank made a Line of Credit available to Suriname to finance eligible India-sourced goods and services for helicopter purchase, requiring at least 85% of contract value to be supplied from India and permitting up to 15% of non-consultancy inputs from abroad. The Credit is effective from July 28, 2010, with LC/disbursement timelines of 48 months for project exports and 72 months for supply contracts. Shipments must be declared on GR/SDF forms. No agency commission is payable under the LOC, though exporters may use own funds or EEFC balances for commission remittances subject to AD Category-I bank approval and prevailing rules. Directions issued under FEMA sections 10(4) and 11(1).
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 mandates majority India-sourced supplies, specified LC timelines, and FEMA compliance.
Exim Bank made a Line of Credit available to Suriname to finance eligible India-sourced goods and services for helicopter purchase, requiring at least 85% of contract value to be supplied from India and permitting up to 15% of non-consultancy inputs from abroad. The Credit is effective from July 28, 2010, with LC/disbursement timelines of 48 months for project exports and 72 months for supply contracts. Shipments must be declared on GR/SDF forms. No agency commission is payable under the LOC, though exporters may use own funds or EEFC balances for commission remittances subject to AD Category-I bank approval and prevailing rules. Directions issued under FEMA sections 10(4) and 11(1).
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 
Join Channel
TaxTMI 
