Circular Camex 1-413: Single and Free Foreign Exchange Market. Exports on Behalf and Order of Third Parties

BANCO CENTRAL DE LA REPÚBLICA ARGENTINA
COMMUNICATION "A" 3818 22/11/2002
TO FINANCIAL ENTITIES:
Ref.: Circular
Camex 1 - 413
Single and Free Foreign Exchange Market.
Exports on Behalf and Order of Third Parties.

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We address you regarding the compliance and monitoring of the obligation to deposit and settle export receivables in the Single and Free Foreign Exchange Market, as established in Communications A 3473, A 3493, and complementary ones, in cases of exports carried out on behalf and order of third parties in accordance with the norms established in AFIP General Resolution 616/1999 of 17.6.1999. In this regard, we inform you that in export operations on behalf and order of third parties, that is, those entrusted by the owner of the merchandise to agents, consignees, or other intermediaries to carry out the sale of goods abroad on behalf and order of the aforementioned owner, both parties, the shipper and the owner, to the extent that they are so nominated in the shipping permit, are responsible for compliance with the obligation to settle foreign exchange for those exports. Regarding the monitoring of the shipping permits corresponding to this type of operation, the intervening bank may mark the shipment as fulfilled against the liquidation and crediting of the corresponding funds in a current account or savings account of the exporter and/or the shipper (provided they appear as such in the respective shipping permit), and/or against the applications permitted by the prevailing foreign exchange norms carried out by the exporter and/or the shipper. We salute you very attentively. BANCO CENTRAL DE LA REPÚBLICA ARGENTINA Jorge L. Rodríguez Raúl O. Planes Manager of Foreign Operations and Deputy General Manager Foreign Exchange