Circular External Collections and Payments COPEX 1 - 45

BANCO CENTRAL DE LA REPUBLICA ARGENTINA
COMMUNICATION "A" 397 21/10/83
TO FINANCIAL ENTITIES AUTHORIZED TO OPERATE IN EXCHANGE AND EXCHANGE BROKERS:
Ref.: Circular EXTERNAL COLLECTIONS AND PAYMENTS COPEX – 1 - 45

We address you to communicate the norms that must be observed regarding payments for imports, included in Chapter II, point 1, section 1.3., item 1.3.1. of Communication “A” 12 of 2.3.81 COPEX – 1.

1. The FOB or C and F value can only be paid in installments not less than 180 days, starting from the date of shipment, including, if applicable, the value of the respective financing interests.
   In the case of products originating from and originating in the countries members of the Latin American Integration Association (ALADI) and negotiated within its scope, the term must be not less than 90 days.

2. When it comes to products not negotiated originating from and originating in the countries members of the Latin American Integration Association (ALADI) and those originating from and originating in the countries that make up the Central American Common Market and of Cuba, Haiti, Panama and the Dominican Republic, they can only be paid in installments not less than 120 days starting from the date of shipment, including, if applicable, the respective financing interests.
   When it comes to operations covered by valid documentary credits, opened until 21.10.83 or goods shipped until that date, the term will be the agreement adjusted to the provisions in force at the time of its agreement. The provisions established in point 2, section 2.2. (item 1.3.2.), 2.3. and 2.4. of Communication “A” 128 – COPEX – 1 – 20 of 24.5.82 remain in force. Payments for operations that are agreed from the date in accordance with the conditions established by this Communication, can be made, at their maturity, directly by the Authorized Entities adjusted to the general norms in force in the matter. In the case of transfers for consular expenses, they will be adjusted to the provisions established by Communication “A” 385 of 13.9.83 – COPEX – 1 – 41.

We greet you very attentively.
BANCO CENTRAL DE LA REPÚBLICA ARGENTINA
Jorge E. Magistrelli
Manager of
Foreign Exchange
Evaristo H. Evangelista
General Deputy Manager