Regulatory Alerts2020-04-16 | Circular 4002Circular No. 4002 — Amends Circular No. 3,691 of December 16, 2013, which regulates Resolution No. 3,568 of May 29, 2008, regarding the foreign exchange market, to adjust deadlines for foreign exchange operations
The Collegiate Board of the Central Bank of Brazil issued Circular No. 4002 to amend Circular No. 3,691/2013, establishing new maximum deadlines for foreign exchange operations to align with emergency measures. The regulation extends the maximum settlement period for export contracts to 1,500 days and allows advance payments for imports up to 1,800 days for machinery and equipment with long production cycles. These changes apply to contracts entered into from March 20, 2020, and revoke previous circulars and articles to streamline compliance during the pandemic.
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