Line of credit conditions require majority Indian sourcing and specified disbursement and documentation timelines for project finance. Exim Bank's Line of Credit finances eligible goods, services and consultancy from India for a Cambodian transmission line project, requiring at least 85% of contract value to be supplied from India and up to 15% procured outside India (excluding consultancy). Letters of Credit and disbursement deadlines are 48 months from project completion for project exports and 72 months from the Credit Agreement execution for supply contracts. Shipments must be declared on GR/SDF forms. No agency commission is payable under the LOC, though exporters may pay commission from their own resources or EEFC balances subject to AD Category I bank compliance. Directions are issued under FEMA powers.
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 conditions require majority Indian sourcing and specified disbursement and documentation timelines for project finance.
Exim Bank's Line of Credit finances eligible goods, services and consultancy from India for a Cambodian transmission line project, requiring at least 85% of contract value to be supplied from India and up to 15% procured outside India (excluding consultancy). Letters of Credit and disbursement deadlines are 48 months from project completion for project exports and 72 months from the Credit Agreement execution for supply contracts. Shipments must be declared on GR/SDF forms. No agency commission is payable under the LOC, though exporters may pay commission from their own resources or EEFC balances subject to AD Category I bank compliance. Directions are issued under FEMA powers.
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