PSV Location

I am looking at installing a PSV on a condensate line considering an over-pressure scenario due to an upstream valve failure. The line from the upstream valve to the next process unit is appx. 300 linear feet. Should I put the PSV as close to the high-pressure source (the control valve) as possible or can I put it anywhere? It seems obvious to me that it should be located close to the high-pressure source but I can't find a source that tells me this. Any ideas?