https://www.taxtmi.com/circulars?id=52361 Exim Bank granted a Line of Credit of USD 300 million to Ethiopia for the Asaita-Tadjourah railway to finance eligible goods, machinery, equipment and services from India, subject to a local content requirement that a substantial majority of contract value be supplied from India. The Agreement (executed June 13, 2013; effective July 15, 2013) sets distinct L/C and disbursement timelines for project exports and supply contracts, requires GR/SDF shipment declarations, disallows agency commission under the LOC while permitting exporter-funded commission remittances subject to AD bank compliance, and is issued under FEMA authority. en-us Mon, 12 Aug 2013 00:00:00 +0530 Tue, 13 Aug 2013 10:16:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=52361 Exim Bank granted a Line of Credit of USD 300 million to Ethiopia for the Asaita-Tadjourah railway to finance eligible goods, machinery, equipment and services from India, subject to a local content requirement that a substantial majority of contract value be supplied from India. The Agreement (executed June 13, 2013; effective July 15, 2013) sets distinct L/C and disbursement timelines for project exports and supply contracts, requires GR/SDF shipment declarations, disallows agency commission under the LOC while permitting exporter-funded commission remittances subject to AD bank compliance, and is issued under FEMA authority. Circulars FEMA Mon, 12 Aug 2013 00:00:00 +0530 https://www.taxtmi.com/circulars?id=52361