Regulatory Alerts2021-02-04
Notice No. 001-01-2021 on Payment Terms for Goods Purchased for Non-UEMOA Countries
The Banque Centrale des Etats de l'Afrique de l'Ouest (BCEAO) issues Notice No. 001-01-2021 to standardize payment procedures for residents purchasing goods abroad destined for non-UEMOA countries. The directive mandates authorized intermediaries to utilize foreign exchange forms, maintain detailed tracking files, and execute currency settlements strictly within received receipts. It further establishes a maximum 30-day collection window (extending to 120 days post-settlement) for advance payments, with non-compliance triggering the suspension of future contract-related disbursements.
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