Line of Credit conditions for export financing require majority sourcing from India and adherence to FEMA declaration rules. Exim Bank provided a Line of Credit to finance eligible goods, equipment and consultancy services from India for an electricity interconnection project, requiring at least 85 per cent of each contract price to be supplied from India and permitting up to 15 per cent of non consultancy items to be sourced abroad; shipments must be declared on GR/SDF Forms and no agency commission is payable under the LOC except from exporter's own funds or EEFC balances subject to realisation and remittance 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 conditions for export financing require majority sourcing from India and adherence to FEMA declaration rules.
Exim Bank provided a Line of Credit to finance eligible goods, equipment and consultancy services from India for an electricity interconnection project, requiring at least 85 per cent of each contract price to be supplied from India and permitting up to 15 per cent of non consultancy items to be sourced abroad; shipments must be declared on GR/SDF Forms and no agency commission is payable under the LOC except from exporter's own funds or EEFC balances subject to realisation and remittance rules.
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