Circular External Collections and Payments COPEX 1

BANCO CENTRAL DE LA REPÚBLICA ARGENTINA
COMUNICACIÓN "A" 12 02/03/81
TO AUTHORIZED FINANCIAL ENTITIES OPERATING IN EXCHANGE AND EXCHANGE BROKERS:
Ref.: Circular EXTERNAL COLLECTIONS AND PAYMENTS COPEX - 1

We address you to accompany you with the ordered text to date of the provisions issued by this Institution, which apply to the subject matter referenced. We salute you very attentively.

BANCO CENTRAL DE LA REPÚBLICA ARGENTINA
Antonio E. Conde
Manager of
External and Exchange
Evaristo H. Evangelista
Deputy General Manager

ANNEX

BANCO CENTRAL DE LA REPÚBLICA ARGENTINA
CONTENT
Circular EXTERNAL COLLECTIONS AND PAYMENTS COPEX - 1 I.- Exchange regime for exports.
II.- Exchange regime for imports.
III. Reciprocal Credit Agreements
2.3.81 1

BANCO CENTRAL DE LA REPÚBLICA ARGENTINA
CONTENT
I.- Exchange regime for exports. COPEX - 1

1. General provisions.
   1.1. Promoted export products.
   1.1. Traditional export products.
   1.1. Negotiation of foreign currency.
   1.1. Advance payment of exports.
   1.1. Foreign currency loans to finance exports.
   1.1.1. Income.
   1.1.1. Amortizations.
   1.1. Payment currency.
   1.1. Commissions to sales representatives or agents.
   1.1. FOB value adjustments.
   1.1. Return of goods from abroad.
   1.1. Exports exempt from negotiating foreign currency.
   1.1.1. Goods samples.
   1.1.1. Series films for television or printed "video tapes".
   1.1.1. Small shipments of books and magazines by postal route.
   1.1.1. Shipments of newspapers. (NADE Position 49.02.00.01)
   1.1.1. Parts and pieces under warranty
2. Other provisions.
   2.1. Temporary exports that become definitive.
   2.2. Exportations on consignment.
   2.3. Exportations by land route. Verification of companies authorized for transport.
   2.4. Report for failure to negotiate in time the corresponding foreign currency.
   2.4.1. Form and deadlines to provide information.
   2.5. Verification of signatures authorized to operate.
   2.3.81 1

BANCO CENTRAL DE LA REPÚBLICA ARGENTINA
CONTENT
II.- Exchange regime for imports COPEX - 1

1. General provisions.
   1.1. Rules for the application of Certificates of Sworn Declarations of Import Needs.
   1.1.1. Opening of documentary credits and course of other payment instruments.
   1.1.1. Determination of equivalents in other currencies.
   1.1.1. Record of operations carried out.
   1.1.1. Applicability for the Special Customs Area Law 19640
   1.1. Intervention of documentation for payments for imports, excluding "capital goods".
   1.1. Payment regime.
   1.3.1. Goods in general.
   1.3.2. Printed books that enter by postal route.
   1.3.3. Fresh fruits received on consignment.
   1.3.4. Temporary imports of inputs.
   1.3.5. Goods not cleared to the market due to disasters.
   1.4. Commissions of representatives or purchase agents.
   1.5. Payment currency.
   1.6. Verification of signatures authorized to operate.
2. Provisions on capital goods.
   1.1. Conditions for the negotiation of operations.
   1.1. Procedure for operations.
   1.1. Cancellation of debts in advance of their maturity.
3. Other provisions.
   1.1. Imports by land route. Verification of companies authorized for transport.
   1.1. Obligation to ship on Argentine flag vessels.
   2.3.81 1

BANCO CENTRAL DE LA REPÚBLICA ARGENTINA
CONTENT
III.- Reciprocal Credit Agreements COPEX - 1

1. Rules for channeling collections and payments through the respective accounts.
   1.1. List of Institutions with which Reciprocal Credit Agreements have been subscribed.
   1.2. Entities authorized to operate through Reciprocal Credit Agreements.
   1.3. Foreign institutions.
   1.4. Domestic entities.
   1.5. Operations covered by these provisions.
   1.5.1. Payments
   1.5.2. Collections.
2. Instrumentation and operational mechanics of collections and payments through Reciprocal Credit Agreements.
   2.1. Exports.
   2.1.1. Covered by irrevocable documentary credits.
   2.1.1. Covered by guaranteed letters or promissory notes issued or guaranteed by authorized entities.
   2.1.2. Covered by payment orders.
   2.1.3. Reimbursement of operations.
   2.2. Imports.
   2.1.4. Covered by irrevocable documentary credits.
   2.1.5. Covered by guaranteed letters or promissory notes issued or guaranteed by authorized entities.
   2.1.6. Covered by payment orders.
   2.1.7. Non-negotiable named transfers and collections and payments for other concepts.
   2.1.8. Numbering and deadline of documents that authorize payments abroad.
   2.1.9. Received payment orders.
3. Negotiation of operations.
   3.1. Applicable exchange rate.
   3.2. Formulas relating to purchases and sales of exchange to this Bank, cancellations of these and their delivery deadlines.
4. Information regime.
5. Other provisions.
   5.1. Operational mechanics and guidelines regarding guaranteed letters and promissory notes derived from commercial operations issued or guaranteed by authorized institutions.
   5.2. Payments to countries outside the zone through the accounts of Reciprocal Credit Agreements.
   5.3. Latin American Bank Acceptances - ALALC (ABLA).
6. General provisions.
   2.3.81 1

BANCO CENTRAL DE LA REPÚBLICA ARGENTINA
ORDERED TEXT
Circular EXTERNAL COLLECTIONS AND PAYMENTS COPEX - 1 I.- Exchange regime for exports.

1. General provisions.
   1.1. Promoted export products.
   Promoted export products are considered all those that are susceptible to financing through the rediscounting of letters by the Central Bank. When recourse is made to that system, the Negotiation in the foreign exchange market of the foreign currency coming from such exports must comply with the deadlines established by the current regulations, according to the product in question. Otherwise, the deadline for entry will be freely agreed between buyer and seller, governing for the negotiation what is determined in point 1.3.
   1.2. Traditional export products.
   This concept includes products not included in the previous section.
   For the entry of foreign currency coming from the exports of these exports, a deadline of up to 180 days from the date of shipment is established.
   1.3. Negotiation of foreign currency.
   The negotiation of foreign currency coming from the exports of the products included in sections 1.1 and 1.2 preceding, must be carried out within 30 business days following the stipulated deadlines. In the contrary case, its negotiation will be carried out at the exchange rate in effect at the expiration of the obligation or at that of the day of negotiation if it were lower. When the exchange rate of the expiration of the obligation is applied, the acquired foreign currency must be transferred immediately to the Central Bank, at the same quotation.
   1.4. Advance payment of exports.
   The foreign currency that is negotiated in the foreign exchange market as advance payment of exports, must be applied to shipments that take place within a period of not less than 360 days from the date of negotiation. When the export is not carried out, they will be adjusted to what is indicated in point 1.5.2 fourth paragraph. The foreign currency that is negotiated in the foreign exchange market, as advance payment for the operations included in the regime of Law 21453, its Regulatory Decree 2923/76 and complementary provisions, must be applied to exports within a period of not more than 180 days from the date of negotiation.
   1.5. Foreign currency loans to finance exports.
   Loans must be granted exclusively by banks or firms abroad or by authorized local entities applying funds lent from deposits in foreign currency or with imputation to the general lines of external credit or that are granted to that end. For the entry and amortization of foreign currency loans as financing of exports, the rules listed below apply:
   2.3.81 1

I.- Exchange regime for exports. (Continuation). COPEX - 1
1.5.1. Income.
The foreign exchange negotiation of the loan will be carried out by the exporting firm, stating in the respective sworn declaration the deadline, interest rates, type of goods and country of destination. When the modality of the operation does not allow determining in advance the product to be exported or the destination, this circumstance will be clarified.
1.5.2. Amortizations.
The deadline for loans negotiated under this Circular cannot exceed 360 days and its amortization must be carried out simultaneously with the entry of foreign currency coming from the export or at the time when the discount of letters is carried out in accordance with the export financing regulations. In both cases, the loans cannot accrue interest payments beyond the date on which their amortization occurs, according to the procedures described above. When the amortization of the loan is carried out directly abroad with foreign currency coming from the export, the corresponding reporting forms will be integrated ex officio and for statistical purposes. In the case where the payment of the export is carried out through the accounts of Reciprocal Credit Agreements, operations with this Bank will be processed in the manner provided for in Chapter III of point 3.1. When the export is not carried out, the return of the loan can only be carried out adjusted to the regulations that, at the date when the negotiation of foreign currency occurred, governed for the reimbursement of foreign currency financial loans. In the eventuality of exports that cover partial amounts, for the balances not applied, the same procedure will be followed, unless the amount to be returned does not exceed 10% of the loan amount, in which case it may proceed to its return without complying with the requirement stated.
1.6. Payment currency.
Operations can be carried out in any freely convertible currency agreed upon by buyer and seller.
Regarding the collection of exports destined to countries with which there are Reciprocal Credit Agreements, they may be adjusted to the mechanism provided for by said agreements.
1.7. Commissions of representatives or sales agents.
Amounts freely agreed upon by exporters with their representatives or sales agents can be transferred under this concept.
1.8. FOB value adjustments.
Transfers intended to cover claims that represent a decrease in the value of exports up to USD 20,000 or that do not exceed 20% of their FOB value, can be processed directly, provided that they are finalized within 360 days of the shipment, with the intervention of the authorized entity that negotiated the foreign currency.
1.9. Return of goods from abroad.
Upon presentation of customs documentation that accredits the re-entry of goods, previously exported, and the certification of the Public Accountant in which the accounting registration of the emerging credit is recorded, authorized entities can cancel the respective export collections, or effect the transfer of foreign currency when previously received its payment, as applicable.
2.3.81 2

B.C.R.A.
I.- Exchange regime for exports. (Continuation). COPEX - 1
1.10. Exports exempt from negotiating foreign currency.
1.10.1. Goods samples. Shipments whose value does not exceed USD 20,000, always
that the exporting firms declare under oath, in the respective shipping permits, that they are carried out free of charge.
This franchise is extended, without value limitation, to shipments of samples of useless goods, in such a way that it excludes the possibility of their sale in abroad.
1.10.2. Series films for television or printed "video tapes". When, fulfilling
their exhibition cycle in the country, they must be returned to their owners or distributors abroad.
1.10.3. Small shipments of books and magazines by postal route. Shipments of books and magazines
printed and edited in the country in the Castilian language that are carried out by postal route, in packages of up to 20 kilograms and no more than five copies of the complete work per package. (Decree 1494/77).
1.10.4. Shipments of newspapers (NADE Position 49.02.00.01) Shipments of newspapers abroad,
always that they comply with the conditions established in Decree 857/78.
1.10.5. Parts and pieces under warranty. The export must be carried out under the regime
of Decree 2687/79 (warranty for replacement of defective parts and pieces).
2.3.81 3

B.C.R.A.
I.- Exchange regime for exports. (Continuation) COPEX - 1
2. Other provisions.
2.1. Temporary exports that become definitive.
When exports carried out under the "temporary" regime become definitive as a result of their sale or by resolution of the National Customs Administration, they must comply with what is stipulated in points 1.1. or 1.2. - as applicable - and 1.3.
2.2. Exportations on consignment.
Goods exported on consignment under the regime established by Decree 637/79, which upon sale become definitive, must comply with what is stipulated in points 1.1 or 1.2 - as applicable - and 1.3.
2.3. Exportations by land route. Verification of companies authorized for transport.
Documentation related to exports of goods by land route can only be processed when the transport service is provided by companies properly authorized by the competent authority to intervene in international traffic. The international land bill of lading or equivalent document must expressly state the number of the authorization granted by the relevant body.
2.4. Report for failure to negotiate in time the corresponding foreign currency.
Authorized entities must only inform via Form 1519 the lack of entry of foreign currency for exports that, during the period between 9.3.69 and 5.31.77 were subject to financing according to the regulations in effect at that time.
2.4.1. Form and deadline to provide information.
One Form 1519 must be used per firm and per shipment, and prepared in triplicate, with the duplicate and triplicate remaining in the possession of the authorized entity, and must contain without fail the clarification of the firms that sign it, attaching a certified copy of the respective shipping permit. In the total or partial amount stated in the boxes "amount of the export" and "foreign currency pending negotiation", amounts for other concepts must not be included that are strictly linked to the FOB value declared in the respective shipping permit - and freight and insurance, if applicable -. This information must be provided within 15 days following the deadline established for the negotiation of foreign currency and, when the authorized entity has evidence that the cancellation was not carried out in time and form at the payment address established in the respective banking documentation, within the deadline stipulated in it. In the case of a partial settlement of foreign currency in relation to a report already made in Form 1519, Form 1519 (B) must be presented, which must be integrated by duplicate, with this remaining in the possession of the intervening authorized entity, sending the original to the Central Bank within five days of the entry of foreign currency. The settlement of the total balance pending entry must be reported, within five days of operation, by sending the triplicate of Form 1519. In cases where such entry is made through an authorized entity different from the one that endorsed it, the latter must take the necessary precautions to determine the concept of the operation, communicating to the other entity the imputation that corresponds to make regarding that entry, in such a way that it can process the pertinent information within the term established previously.
2.3.81 1

I.- Exchange regime for exports. (Continuation) COPEX - 1
2.5. Verification of signatures authorized to operate.
In exchange operations processed in consultations and requests submitted for the purpose of carrying out exchange operations, authorized entities must expressly verify that the holder of the operation is not disqualified from operating in exchange, leaving a record of such verification. In the case of requests submitted to carry out exchange operations by persons or firms disqualified, the authorizations issued by the Central Bank will only be valid when the resolution establishes that such authorization includes the exception to the provision by which the disqualification was communicated.
2.3.81 2

BANCO CENTRAL DE LA REPÚBLICA ARGENTINA
ORDERED TEXT
Circular EXTERNAL COLLECTIONS AND PAYMENTS COPEX - 1 II.- Exchange regime for imports

1. General provisions.
   Authorized entities may directly process openings of documentary credits and transfers of funds abroad that respond to their use, cancellation of letters and any other form of instrumentation for the purchase of goods, in accordance with the conditions listed below and complying with the provisions of Circular CAMEX

• 1, Chapter IV point 1.1.
  1.1. Rules for the application of Certificates of Sworn Declarations of Import Needs.
  1.1.1. Opening of documentary credits and course of other payment instruments.
  The opening of documentary credits and the course of any other instrumentation of payment are subject to the prior presentation, by the interested parties, of a Certificate of Sworn Declaration of Import Needs, intervened by the State Secretariat of Commerce and International Economic Negotiations. This document will not be required for the operations referred to in points 1.3.2. and 1.3.4. for those whose total FOB value is less than USD 1,000 or its equivalent in other currencies (SECYNEI Resolutions 1193 of 6.1.70 and 1881 of 4.24.80), applying for its conversion the closing seller quotations of the Bank of the Argentine Nation on the business day prior to the date of intervention of the authorized entity in the operation presented to it.
  1.1.2. Determination of equivalents in other currencies.
  When payments abroad must be made in currencies other than those stated in the respective Certificates, for the conversion of foreign currency, the closing seller quotations of the Bank of the Argentine Nation given on the date when the aforementioned documents have been issued by the State Secretariat of Commerce and International Economic Negotiations will be taken.
  1.1.3. Record of operations carried out.
  In the originals of such Certificates, a record must be left of the operations that carry out, prior to verification that they correspond to the values and other specifications established in them.
  1.1.4. Applicability for the Special Customs Area Law 19640
  For operations related to imports carried out by importers resident in the National Territory of Tierra del Fuego, Antarctica and islands of the Atlantic South destined to the Special Customs Area created by Law 19640, the requirement of the respective Certificate of Sworn Declaration of Import Needs applies.
  1.2. Intervention of documentation for payments for imports, excluding those of "capital goods".
  To make these payments, in addition to the documentation they deem necessary to ensure the legitimacy of the operation, the presentation of commercial invoices and the original shipping document (bill of lading, air waybill or land waybill, or bill of lading) on the face of which they will leave a record of the sum that is remitted for; for goods paid in installments, this record will refer to the payment method, indicating the amount and maturity of the obligations. It is clarified that in the case of air transport, the specimen is the one identified as "original 2 (for consignee)" and in the case of maritime or river transport, the complete set of bills of lading.
  2.3.81 1

II.- Exchange Rate Regime for Imports. (Continuation). COPEX - 1

When dealing with perishable goods and forced dispatch, transported by land or rail, or received by postal consignment, payment may be made directly upon presentation of a copy of the partial dispatch or customs clearance for verification, as well as the fourth copy of the duty payment slip, on which the intervening entity shall record the amount remitted. In the absence thereof, the importer must commit to presenting said documents within 90 days of the remittance having been made, and banks must report cases of non-compliance within 3 business days of the expiration of the commitment.

1.3. Payment Regime.

1.3.1. General Merchandise.
The FOB value of imports, as well as freight, may be paid in full or partially in cash against delivery or presentation of shipping documentation, or with installment financing, as agreed between the parties. The interest rate for external financing for import operations in the private sector may be freely contracted, and may be paid in the terms agreed upon. In credits that have the guarantee or guarantee of the State, interest rates must be submitted to the prior authorization of the Central Bank. In the case of financed operations, the cancellation of owed amounts may be effected - in total or partial - before their respective due dates, regardless of the date or term agreed upon for their payments.

1.3.2. Printed books entering by postal route.
Payments may be made in advance of their receipt provided they concern books acquired by public libraries and non-profit public benefit entities, recognized and with legal personality, and by individuals.

1.3.3. Fresh fruits received on consignment.
Payments abroad corresponding to the final settlement of imports of fresh fruits received on consignment may be made directly based on the result yielded by the corresponding Account of Sale and Net Product.

1.3.4. Temporary imports of inputs.
Operations related to temporary imports of elements that constitute industrial inputs for products destined for export may proceed under the general payment conditions determined in this Chapter, provided they are backed by authorizations granted pursuant to what is established by Decree 2191/78 and also comply with what is provided in Resolution of the Ministry of Economy 1409 of 7.11.78. When it concerns elements included in the concept "capital goods", the respective operations are excluded from the provisions of point 2.

1.3.5. Goods not cleared to customs due to accidents.
Goods that are not cleared to customs due to their loss, caused by accidents, may be paid under the conditions of the regime established in this Chapter, provided the interested parties credibly demonstrate such circumstance.

1.4. Commissions of representatives or purchase agents.
Amounts freely agreed upon by importers with their representatives or purchase agents may be transferred under this concept.

1.5. Currency of payment.
Operations may be conducted in any freely convertible currency agreed upon by buyer and seller.
Regarding payments corresponding to imports from countries with which there are Reciprocal Credit Agreements, they must adhere to the mechanism provided by said agreements.

1.6. Verification of signatures authorized to operate.
In exchange operations conducted and in inquiries and requests filed for the realization of exchange operations, authorized entities must expressly verify that the holder of the operation is not disqualified from operating in exchanges, leaving a record of said verification. In the case of requests presented to carry out exchange operations by persons or firms disqualified, the authorizations issued by the Central Bank are only valid when, in the resolution, it is established that such authorization includes the exception of the provision by which the disqualification was communicated.

2. Dispositions on Capital Goods.

2.1. Conditions for the negotiation of operations.
The purchase of capital goods included in the list of Annex I, whose FOB value does not exceed the sum of USD 5 million or its equivalent in other currencies, may be effected in the financing terms agreed upon with sellers and even in total or partially against shipping documentation. The interest rates for such financings will adjust to what is indicated in point 1.3.1. Advance payments up to 20% of the FOB value of the purchase are admitted, and the Central Bank must be consulted in form 3124 when the operation requires larger advances. In cases where this privilege is used, the importation must be instrumented with a documentary credit, for an amount not less than the total to be paid until the delivery of shipping documentation, in which the amortization conditions of the balance financed in installments shall be stated. For the realization of advance payments, in the corresponding documentary credits, it must be recorded that the exporter must deliver the respective shipping documentation within the validity period of the credit and that, in case of failure, they commit to reintegrating the transferred amount within 10 days following the expiration of said period.

2.2. Processing of operations.
Authorized entities for operating in exchanges may directly process operations of the private sector, in accordance with general character dispositions, and may also process transfers corresponding to insurance premiums for export. For operations exceeding USD 20,000 or its equivalent in other currencies, form 3125 - continuing with its correlative numbering - shall be used, in which payment conditions shall be recorded in "Observations", and they must be sent to the Central Bank for statistical purposes within three business days of their issuance. Operations for amounts exceeding USD 5 million FOB require prior consultation to the Central Bank in form 3124.

2.3. Cancellation of debts in advance of their due dates.
The cancellation of amounts owed for capital goods imports may be effected - in total or partial - in advance of their respective due dates. When it concerns amounts exceeding USD 5 million FOB, prior agreement of this Bank must be managed.

3. Other Dispositions.

3.1. Imports by land route. Verification of companies authorized for transport.
Shipping documentation related to merchandise imports by land route may only be processed when the transport service has been provided by companies duly authorized by the competent authority to intervene in international traffic. The international land bill of lading or equivalent document must expressly state the number of the authorization conferred by the pertinent organism.

3.2. Obligation to ship on Argentine-flagged vessels.
According to the regime established by Law 18250, Decree 6942/72, Resolution SEIM 507/76 and other complementary dispositions, a record must be left in documentary credits, in cases where appropriate, of the obligation to ship on Argentine-flagged vessels.

BANCO CENTRAL DE LA REPÚBLICA ARGENTINA
ORDERED TEXT
Circular EXTERNAL COLLECTIONS AND PAYMENTS COPEX - 1

III.- Reciprocal Credit Agreements.

1. Rules for channeling collections and payments through the respective accounts.

1.1. List of Institutions with which Reciprocal Credit Agreements have been subscribed.
Central Bank of Bolivia - Bolivia.
Central Bank of Brazil - Brazil.
Bank of the Republic - Colombia.
National Bank of Cuba - Cuba.
Central Bank of Chile - Chile.
Central Bank of Ecuador - Ecuador.
Bank of Mexico S.A. - Mexico.
Central Bank of Paraguay - Paraguay.
Central Bank of Reserve of Peru - Peru.
Central Bank of the Dominican Republic - D. Rep.
Central Bank of Uruguay - Uruguay.
Central Bank of Venezuela - Venezuela.

1.2. Entities authorized to operate through Reciprocal Credit Agreements.
For all effects, authorized entities of each country must be understood as those located in the countries mentioned in point 1.1. and that have the pertinent authorization of their respective Central Banks to operate through Reciprocal Credit Agreements.

1.3. List of Foreign Entities:
The detail will be informed via communications "B", which will be made known regularly and in which the codes to be used for the processing of operations will also be stated.

1.4. Domestic Entities.
The following are authorized to operate through Reciprocal Credit Agreements:
1.4.1. Entities authorized to operate in foreign currency in Category "C"; to issue and receive letters of credit, documentary credits, payment orders, promissory notes derived from commercial operations and named drafts, and to guarantee letters and promissory notes derived from commercial operations.
1.4.2. Entities authorized to operate in foreign currency in Category "B"; to issue or receive payment orders and named drafts, provided they do not relate to export or import operations.
1.4.3. Authorized exchange houses; to make drafts and transfers for any concept, except those linked to foreign trade.

1.5. Operations covered by these dispositions.
1.5.1. Payments
All payments for direct operations carried out between natural or legal persons resident in the Argentine Republic and the countries mentioned in point 1.1, must be conducted in US dollars through accounts opened for this purpose in the respective Central Banks. Payments on Ecuador covering the importation of products included in Chapter 27 of the Nomenclator of the Common External Tariff (NABAL C) and their related expenses are excluded from said treatment.

1.5.2. Collections.
The channeling of collections for any concept through Reciprocal Credit Agreements is of a voluntary character. Consequently, income received from exports or other concepts may be settled outside such accounts, in freely convertible currencies.

2. Instrumentation and operational mechanics of collections and payments through Reciprocal Credit Agreements.

2.1. Exports.
2.1.1. Covered by irrevocable documentary credits.
The openings of irrevocable documentary credits covering exports of national merchandise and their eventual modifications are effected directly by the commercial banks of the importing countries in the authorized local entities and, consequently, it is their responsibility to convert all details relative to payment, as well as the conditions and other modalities of the operations. The authorized local entities will directly carry out the payments corresponding to the utilization of such credits.

2.1.2. Covered by guaranteed letters or promissory notes issued or guaranteed by authorized entities.
The authorized local entities will directly, at their maturity, carry out the payments corresponding to the cancellation of those documents.

2.1.3. Covered by payment orders.
The commercial banks of the respective countries will send the payment orders to the authorized Argentine entities, which will directly carry out the corresponding payments.

2.1.4. Reimbursements of operations
The reimbursement of the operations referred to in the preceding sections must be requested by the authorized entities to this Bank via form 1989 B or C, numbered correlative, at the moment of carrying out settlements charged against documentary credits, guaranteed letters, promissory notes issued or guaranteed by authorized entities or payment orders, as appropriate. Complying with the procedures provided by this Circular, at the sole request of the authorized entities, this Bank will reimburse them the corresponding amount. It is the exclusive and total responsibility of the authorized entities that settlements to their clients have been executed with strict adherence to instructions received from their correspondents, that the authenticity of the signatures of the drawers, issuers, guarantors or their telegraphic keys have been verified, and that all other requirements inherent to each operation have been met. The commissions and expenses corresponding to the notification, confirmation, modification and extension of documentary credits, as well as refinancing interest if applicable, will be charged at the moment of negotiation of the shipping documents, and must be indicated individually in forms 1989 C. In case that documentary credits are not used, commissions and expenses will be charged at their maturity.

2.2. Imports.
2.2.1. Covered by irrevocable documentary credits.
Irrevocable documentary credits covering imports must be opened directly by the authorized local entities in the commercial banks of the exporting countries. Consequently, it will be their responsibility to agree on all details relative to payment, as well as the conditions and other modalities of the operations. The authorized entities, on their part, will simultaneously communicate the openings of irrevocable documentary credits they effect and their eventual value increases, via form 3305, by which they authorize this Bank, in an irrevocable manner, to debit their account for the equivalent of the amounts in dollars that are paid abroad charged against them. Upon receiving notice from their correspondents on the utilization of documentary credits, the authorized entities will proceed, within 8 (eight) business days following, to the negotiation of the currencies, sending us the detail of daily settlements in form 1988, integrating one per Agreement. In the absence of said negotiation within the established period, once 8 (eight) business days have passed since receiving the debit notice from the corresponding Central Bank, this Bank will proceed to automatically settle the operation, via form 3306. On its part, the intervening authorized entity, within 5 (five) business days following the date of the ex officio settlement, in counterparty, must make available to this Bank freely convertible US dollars. The arbitrage and respective reports in form 1116 B must be carried out separately from the rest of the Agreement operations. The bank commissions and expenses to be paid to their correspondents abroad will be debited by these directly pursuant to what was agreed with their respective Central Banks, so in those cases the issuance of payment orders will not proceed.

2.2.2. Covered by guaranteed letters or promissory notes issued or guaranteed by authorized entities.
When authorized entities guarantee letters, issue or guarantee promissory notes covering obligations for imports, they will simultaneously inform this Bank of the detail of each of those documents via form 2538/2538 A, by which they authorize us to debit their account, in an irrevocable manner, for the payments that are effected abroad imputed to said obligations. When the maturity of those letters or promissory notes occurs, the exchange negotiation with their clients will be effected, which must coincide with the counterparty that this Bank will carry out via form 2538A.

2.2.3. Covered by payment orders.
When Argentine imports are not backed by documentary credits, guaranteed letters or promissory notes, authorized entities will extend payment orders directly to their correspondents, in which they will leave a record of the divisible or indivisible character of their payment conditions. Payments to be made on Venezuela for the importation of products included in Chapter 27 of the Nomenclator of the Common External Tariff (NABAL C) and their related expenses, regardless of their instrumentation, must be conducted through the Central Bank of that country, assigning it Code 7900.

2.2.4. Non-negotiable named drafts and collections and payments for other concepts.
The procedure for their processing and reimbursement is identical to that indicated in Point 2.1., sections 2.1.3. and 2.1.4., for collections and Point 2.2., section 2.2.3, for payments.

2.2.5. Numbering and term of documents authorizing payments abroad.
Documentary credits, guaranteed letters, promissory notes issued or guaranteed by authorized entities, payment orders and non-negotiable named drafts, will be drawn indefectibly with a numbering that individualizes them. In the document drawn to the correspondent, said numbering will be eight digits, suppressing any other kind of identifications, and will be stated at the end of the following legend: "REIMBURSEMENT THROUGH THE AGREEMENT UNDER NO. .." Likewise, payment orders and non-negotiable named drafts must establish a validity period not greater than 90 days, counted from the date of their issuance, expiring at the end of that period. The authorized entities issuing payment orders will adopt the necessary precautions to obtain from their correspondent paying banks abroad, information on the status of each order once 45 days have passed from their issuance, communicating to the drawer the payment, in case, or the lack of collection by the beneficiary.

2.2.6. Received payment orders.
Received payment orders must be settled in total, eliminating fragmentation, unless that possibility is stipulated in them.
To that effect, payment orders containing partials in favor of the Central Bank will be transferred to them for their total value, with the record of the value corresponding to them, in order for it to be credited to them by the resulting equivalent. Once 45 days have passed from their issuance, in case they remain pending settlement, such circumstance will be communicated to the correspondent bank that drew the respective payment order.

3. Negotiation of operations.

3.1. Applicable exchange rate.
For the purpose of carrying out operations in Agreement dollars with their clients, the exchange rate valid for the US dollar at the moment of their negotiation must be applied. Simultaneously, in counterparty, they will carry out an arbitrage with this Bank, by which, this Institution, will cede or receive freely available dollars against Agreement dollars, depending on whether the authorized financial entities and exchange houses carry out purchases or sales.

3.2. Forms relative to purchases and sales of exchange to this Bank, cancellations of these and their delivery terms.
The purchases and sales of exchange with this Bank in counterparty of the operations effected with their clients, will be summarized daily in a single form, for each Agreement country and by concept: form 1989 B or C (purchases) and form 1988 (sales), encoding the data relative to: intervening authorized entity or exchange house; Agreement country and foreign correspondent. Forms 1989 C must be presented accompanied by a photocopy of each of the original payment instruments received from the ordering bank and that are reimbursed with said form. By 16:30 hours on the day the operations were negotiated, forms 1989 B or C and the report sheet 116 B - in duplicate - must be delivered in the Agreements and Gold Division of the Exchange Operations Department, in which they will state the totals of each of the aforementioned forms 1989 B or C and the corresponding ones of forms 1988; 1988 A (cancellation of purchase); 1989 A (cancellation of sale); 3302 (purchase-sale) and 3306 (ex officio sale). The forms cited last (1988; 1988 A; 1989 A; 3302; 3306 -original-), will continue to be received until 12:00 hours on the next business day following the negotiation of the operations. The intervening authorized entities are responsible for the non-delivery of the referred forms on the dates and within the established schedules.

4. Information Regime.
   The report of exchange operations carried out under this regime must adjust to the general character dispositions established for the matter. In the case of discounting of letters, it will be necessary to use the Currency Code found in Annex II.

B.C.R.A.
III.- Convenios de Créditos Recíprocos (Continuación). COPEX - 1
5. Otras disposiciones.
5.1. Mecánica operativa y pautas relativas a letras avaladas y pagares derivados de operaciones comerciales, emitidos o avalados por entidades autorizadas.
5.1.1. Las letras que se cursen deben contar con las siguientes indicaciones:

• En el anverso:
  "Letra única de cambio".
• En el reverso:
  "Reembolso a través del convenio de crédito recíproco ......, bajo Nro.. ....." (el número será indicado por el banco avalista). "Esta letra proviene de la exportación de (mercadería)
  País exportador .....
  País importador .....
  Fecha de embarque .... Valor u$s .....
  Fecha del aval ..... "
  5.1.2. Es condición indispensable que las instrucciones del cedente contemplen que las comisiones y gastos bancarios del banco avalista son a cargo del importador, quien no puede rehusarlas.
  5.1.3. Los pagares derivados de operaciones comerciales deben contar con las siguientes indicaciones en el reverso:
  "Reembolso a través del convenio de crédito recíproco ....., bajo Nro.. ..... " (el número será indicado por el banco emisor o avalista). "Este pagare proviene de la exportación de (mercaderías o servicios)
  País exportador .....
  País importador .....
  Fecha de embarque .... Valor u$s .....
  Fecha del aval ....."
  5.1.4. Los pagares se enviarán oportuna y directamente por los bancos de los exportadores a las entidades autorizadas emisoras o avalistas, a fin de que estas puedan presentarlos, a su vencimiento, a los suscriptores para su pago. En caso de que se establezcan pagos parciales en los pagares, el banco del exportador enviará un recibo por el mismo, al igual que cuando se trate de reembolso de intereses, a fin de que las entidades emisoras avalistas puedan presentarlos a los suscriptores.
  5.1.5. El acto de avalar letras y emitir o avalar pagares significa la certificación de la respectiva entidad autorizada de que esos documentos se han originado en la transacción comercial indicada al reverso de los mismos.
  5.1.6. Con el propósito de evitar posibles duplicaciones en los pagos, en las respectivas cartas remesas de las letras o pagares para su cobro, corresponde insertar la siguiente cláusula:
  "Sírvase tomar nota que al vencimiento de esta(s) letra(s) o pagare(s) nos reembolsaremos automáticamente de su importe a través del Convenio de Crédito Recíproco suscripto entre nuestros dos Bancos Centrales".
  5.1.7. Las cuestiones no previstas precedentemente deben ajustarse al procedimiento establecido para las operaciones con créditos documentarios.
  2.3.81 1

B.C.R.A.
III.- Convenios de Créditos Recíprocos (Continuación). COPEX - 1
5.2. Pagos a países de extrazona a través de las cuentas de los Convenios de Créditos Recíprocos.
Cuando se trate de operaciones que corresponda abonar a través de los Convenios de Créditos Recíprocos, cuyo acreedor final se encuentra radicado en un tercer país, el importador puede efectuar el pago correspondiente mediante trasferencia a través de las cuentas de los Convenios, a favor del acreedor de este tercer país, por intermedio de un banco del país exportador. La referida modalidad operativa es aplicable, indistintamente, a las exportaciones e importaciones argentinas, entendiéndose que el correspondiente arbitraje debe realizarse en el país exportador.
5.3. Aceptaciones Bancarias Latinoamericanas - ALALC (ABLA)
Se trata de una letra única de cambio de texto y formato uniformes, cuyo modelo se acompaña como Anexo III destinada a la captación de recursos extrazonales para el financiamiento de exportaciones entre los países integrantes de la Asociación Latinoamericana de Libre Comercio (ALALC) Dichos documentos deben ser emitidos y negociados con ajuste a las condiciones, requisitos y normas que se consignan en Anexo IV.
2.3.81 2

B.C.R.A.
III.- Convenios de Créditos Recíprocos (Continuación). COPEX - 1
6. Disposiciones generales.
6.1. Además de las disposiciones precedentes, son de aplicación para las operaciones que se cursen con arreglo a ellas todas las normas de carácter general dictadas o que se dicten en el futuro para la realización de cobros y pagos con el exterior.
6.2. Las entidades autorizadas procurarán establecer vínculos de cooperación más estrechos con las de los demás países, a fin de facilitar el mejor desarrollo y fluidez de las operaciones y posibilitar su más adecuada verificación a efectos de controlar al máximo su legitimidad.
6.3. Las entidades autorizadas que intervengan en estas operaciones asumen la total y absoluta responsabilidad sobre la correcta tramitación y ejecución de las operaciones con sus clientes y sus corresponsales.
2.3.81 1

B.C.R.A.
NOMINA DE ELEMENTOS COMPRENDIDOS EN EL
RÉGIMEN DE PAGOS A QUE SE REFIERE EL
CAPÍTULO II (PUNTO 2) DE ESTA CIRCULAR
Anexo a la
Circ. "COPEX-1"
Posición NADI Exclusiones (1)
73
74
76
76
84
16
21
22
37
09
08
09
01
02
03
04
05
06
07
08
09
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
00
02
02
00
02
02
07
03
05
06
00
02
03
05
06
02
03
04
00
01
02
04
00
01
02
02
01
02
03
01
03
02
00
00
01
07
05
050
98/99
00
99
00
02
01
00
00
02
02
01
02
02
91
00
02
00
01
08
02
01-04 - 06 y 20
00
04
05
02
98/99
01-04/07
10 y 98/99
00
06
03/04
06
00
01
00
02 y 04
00
71
00
03 y 10
00
01
00

-2-
Posición NADI Exclusiones (1)
84
85
26
27
28
29
30
31
32
33
34
35
36
37
39
40
41
42
43
44
45
46
47
48
49
50
51
52
53
54
56
57
58
59
01
04
04
05
07
11
13
14
14
00
02
00
01
01
00
03
03
00
01
99
00
01
01
00
14
00
01
01
00
02
99
03
02
03
02
02
01
02
03
05
02
00
01
05
07
01
02
00
01
02
00
05
00
00
08
09
01
06
08
10
11
00
00
01
02
02
00
04/11 y 98/99
00
00
02
01/06
00
00
01
03/04
00
01
00
04
02
00
01
00
02
04
99
02
02
99
00
01
00
04/05
01-03 y 99
00
90
99
03
02
00
07/09
00
01
00
99
00
01
00
02
00
05 y 07
00

B.C.R.A.
NOMINA DE ELEMENTOS COMPRENDIDOS EN EL
RÉGIMEN DE PAGOS A QUE SE REFIERE EL
CAPÍTULO II (PUNTO 2) DE ESTA CIRCULAR
Anexo a la
Circ. "COPEX-1"
Posición NADI Exclusiones (1)
85
86
87
88
89
90
92
92
15
16
22
01
02
03
04
05
06
07
08
10
01
02
03
04
07
14
01
02
05
01
02
03
05
09
10
12
11
11
00
01
02
03
00
00
01
02
00
04
04
00
03
00
01
00
01
00
01
01
02
02
03
04
05
06
10
00
01
02
00
00
02
00
00
02
03
99
99
00
01
02/04
05
06/07
02
02
99
03
03
01 /02
01
03
00
01
01
02
03
00
03 y 98/99
00
01, 05 y 98/99
00
99
00
00
05
8 y 16
00
00
(1) Comprende los tres últimos pares de dígitos de la posición NADI correspondiente.

B.C.R.A.
CÓDIGO DE MONEDAS PARA EL DESCUENTO DE LETRAS Anexo II a la Circ. "COPEX-1 Código Nro.. Monedas 01 02 03 04 05 06 07 08 09 10 11 12 13 14 15 16 17 19 21 26 27 28 33 37 39 41 46 47 54 69 79 80 99 Libras esterlinas Dólares estadounidenses Marcos alemanes Francos franceses Francos suizos Francos belgas (convertible) Liras Florines Pesetas Pesos uruguayos Pesos chilenos Cruzeiros Chelines austríacos Coronas checas Coronas danesas Escudos portugueses Dólares canadienses Yens Dólares australianos Soles Coronas suecas Coronas noruegas Pesos mejicanos Marcos finlandeses Libras israelíes Pesos bolivianos Francos belgas (financiero) Sucres Pesos colombianos Guaraníes Bolívares Pesos (Argentina) Otras monedas Letras descontadas 89 81 82 83 84 85 86 93 94 95 Dólares estadounidenses Chile Perú México Bolivia Colombia Paraguay Uruguay Venezuela Brasil
2.3.81 1

B.C.R.A.
TEXTO Y FORMATO UNIFORME DE LA LETRA ÚNICA DE CAMBIO Anexo III a la Circ. COPEX-1 ACCEPTED:
No._____
We shall pay on maturity in the City of New York, U.S.A. at ……………… or, At the option of the holder, at our address stated Below. ……………… ……………… (Name and address of the accepting bank) ……………… ……………… (date) (Signature) ………………LAFTA - LATIN AMERICAN BANKERS’ ACCEPTANCE No._____ Us$______ ______ ______ City Date On………………of………………unconditionally pay under this One and only bill of exchange to the order of ……………… ………………the sum of……………… U.S. Dollars. Place of payment……………… ………………Or, at the election of the holder, at ……………… Each maker , acceptor, endoser, surety and guarantor of this bill Waives protest and notice of dishonor (but not presentment) in the Event this bill is not paid at maturity. ……………… To: ……………… ……………… Address :……………… (Name and signature of drawer-exporter)
2.3.81 1

TEXTO Y FORMATO UNIFORME DE LA LETRA ÚNICA DE CAMBIO Anexo III a la Circ. COPEX-1 This bill of exchange was originated under documentary Letter of credit No ……………… issued under the Reciprocal Credit Agreement signed and in force between Banco ……….. ……………… and Banco ……………… ……………… and the Agreement of Uniform Guarantees of Availability and Transferability for the Latin American Bankers’ Acceptance - LAFTA dated September 20, 1973, as amended. The transaction which gives rise to this instrument is the Exportation of ……………… from ……………… to ……………… ………..… (Name of the accepting bank )

---

2.3.81 2

B C.R.A.
CONDICIONES, REQUISITOS Y NORMAS A LAS
QUE DEBERÁN AJUSTARSE LAS ACEPTACIONES
BANCARIAS LATINOAMERICANAS (ABLA)
Anexo IV a la
Circ. COPEX-1

1. Características
2. Originada en un crédito irrevocable, cursado al amparo de los Convenios Recíprocos, que cubre el pago de la mercadería embarcada.
3. Girada a su propia orden por un exportador.
4. Expresada en dólares de los Estados Unidos de América y por un plazo que no exceda de 180 días.
5. Aceptada por una entidad autorizada del país del exportador y pagadera en dólares de los Estados Unidos de América.
6. Garantizada por este Banco la posibilidad de adquirir dólares de los Estados Unidos de América y a transferirlos libremente, por lo montos necesarios para pagar las ABLA a su vencimiento.
7. Emisión.
8. La emisión de las letras debe efectuarse al amparo de créditos documentarios pagaderos a plazos no superiores a los 180 días de la fecha de embarque.
9. Embarcada la mercadería y hallándose la documentación de embarque de conformidad con las especificaciones del crédito, el exportador libra una o más letras de cambio a su propia orden.
10. Una entidad autorizada local acepta la letra, la que quedará como propiedad del exportador y susceptible de ulterior negociación.
11. Todas las entidades financieras autorizadas para operar con los Convenios de Créditos Recíprocos están facultadas para aceptar estas letras en tanto puedan negociarlas en el mercado de Nueva York a una tasa no superior a la que fije periódicamente esta Institución.
12. Procedimiento para su negociación en el mercado de Nueva York (EE.UU.)
13. En tanto no se amplíe el ámbito de colocación de las ABLA, su negociación se limita al mercado de Nueva York.
14. Las letras deben ser extendidas en denominaciones no inferiores a 25.000 dólares o superiores en múltiplos de mil.
15. La Sucursal en Nueva York del Banco de la Nación Argentina interviene en todos los casos como banco custodio y pagador de estas aceptaciones.
16. Las ABLA deben ser remitidas a la Institución indicada en el punto anterior (3.3.) para quedar en custodia.
17. Las instituciones aceptantes arreglarán directamente con el Banco de la Nación Argentina, Sucursal Nueva York, la remisión de las ABLA como así también de los facsímiles de las firmas autorizadas para aceptar las letras.
18. Una vez que la ABLA se halla en poder del banco custodio, la institución aceptante se conectará con su corredor en esa ciudad para instruirlo con relación a su negociación. A tal efecto se recomienda, por razones de orden practico, la utilización del menor número posible de corredores, seleccionándolos entre los más capacitados para negociar estos papeles en las condiciones más favorables.
19. En el mismo día que se concreta la negociación, el corredor interviniente retirará la ABLA del banco custodio y simultáneamente hará entrega de su producido en fondos disponibles de inmediato (Federal Funds).
    2.3.81 1

CONDICIONES, REQUISITOS Y NORMAS A LAS
QUE DEBERÁN AJUSTARSE LAS ACEPTACIONES
BANCARIAS LATINOAMERICANAS (ABLA)
Anexo IV a la
Circ. COPEX-1
8. La institución aceptante debe haber instruido previamente al banco custodio para que esos fondos sean acreditados en la cuenta de este Banco de la citada sucursal.
4. Negociación de las divisas.

1. La entidad autorizada interviniente venderá a la firma exportadora dólares de libre convertibilidad en concepto de intereses de financiación (al tipo de cambio que corresponda de acuerdo con las normas vigentes) por un monto similar al deducido como tasa de colocación de la ABLA en el mercado de Nueva York.
2. La firma exportadora venderá a la entidad autorizada los dólares obtenidos (3.7. y 4.1.) aplicando los tipos de cambios que determinen las normas vigentes en esa oportunidad para el cobro de la exportación.
3. Simultáneamente la entidad autorizada revenderá esas divisas a este Banco al mismo tipo de cambio aplicado al cliente. La concertación de la operación se hará telefónicamente y la fórmula 2813 instrumentando la venta de cambio debe ser presentada en la División Transferencias y Corresponsales del Departamento de Operaciones de Cambio, Oficina 304, hasta las 14, con el detalle de las ABLA correlativamente numeradas.
4. Cancelación de las ABLA y liquidación de los créditos documentarios.
5. La entidad aceptante debe presentar 5 (cinco) días hábiles antes del vencimiento de una ABLA, exclusivamente para compras, relacionadas con estas operaciones, una minuta contable en fórmula 2600 aplicando el mismo tipo de cambio de la operación original y en las mismas condiciones (punto 4.3.) a fin de que este Banco transfiera las divisas de disponibilidad inmediata (Federal Funds) destinadas a cancelar la obligación. A tal efecto autorizará en forma irrevocable que se efectúe el débito en su cuenta, comprometiéndose a liquidar en esa fecha, al mismo tipo de cambio, el reembolso del crédito documentario relacionado con la ABLA.
   En la fórmula 1989 B dejará expresa constancia de las operaciones que se hallen vinculadas con las ABLA.
6. Se tomarán los recaudos pertinentes a los efectos de que los impuestos que pudieran gravar las ABLA colocadas en el mercado de Nueva York, no sean con cargo a los tenedores no residentes.
7. Si después de negociada la ABLA surgiese algún inconveniente por no haberse cumplido correctamente alguno de los requisitos para su implementación, que le hiciese perder el carácter de ABLA, el banco aceptante, para facilitar la cobertura de cualquier riesgo que pudiera sufrir el tenedor, suscribirá en la fórmula a que se hizo referencia en el punto 4.3., la autorización irrevocable para que este Banco le debite en cualquier momento, los pesos necesarios para la compra inmediata de los dólares destinados al pago de la letra a su vencimiento o con anticipación a simple requerimiento del tenedor.
8. Varios.
9. Los endosos locales de las ABLA no pueden ser efectuados "sin responsabilidad" (sin recurso).
10. En los casos en que la letra sea aceptada por otra entidad que la que notifico el crédito documentario, la entidad aceptante debe tomar los recaudos para que le sean cedidos los beneficios del reembolso automático y verificará que se haya cumplido con las condiciones del crédito documentario.
11. A los efectos del reembolso a que dan lugar los créditos documentarios cursados a través de los Convenios de Créditos Recíprocos, se ha dispuesto que deberá entenderse que sólo se ha cumplido con todos los términos y condiciones de un crédito documentario cuando se hubieren pagado también las ABLA emitidas a su amparo.
    2.3.81 2

B.C.R.A.
CONDICIONES, REQUISITOS Y NORMAS A LAS
QUE DEBERÁN AJUSTARSE LAS ACEPTACIONES
BANCARIAS LATINOAMERICANAS (ABLA)
Anexo IV a la
Circ. COPEX-1
7. Régimen informativo.
Las entidades autorizadas deben proceder de la siguiente forma:

1. En oportunidad de efectuarse la negociación cambiaria según el régimen establecido en el punto 4.2., la compra en cambio debe denunciarse en fórmula 4001 A consignando en el cuadro respectivo, el siguiente Código:
   124 -"Financiación de exportaciones - Aceptación Bancaria Latinoamericana - ALALC - Circular COPEX-1".
   La denuncia de estas operaciones se registra en la planilla de resumen diario en fórmula 4009.
   Simultáneamente, se denunciará la venta de divisas a este Banco en planilla 116 A.
2. Cuando se proceda a la devolución de la financiación según el régimen establecido en el punto 5.1., la entidad autorizada registrará la compra de las divisas a este Banco en la planilla 116 A y simultáneamente integrará una fórmula 4002 A, utilizando el siguiente Código:
   624 - "Devolución de financiaciones de exportación. Aceptación Bancaria Latinoamericana - ALALC - Circular COPEX-1".
   La denuncia de estas operaciones se registrar en la planilla de resumen diario en fórmula 4009.
3. La denuncia de la liquidación de las divisas de la exportación se registrar en la forma de practica, es decir, en las fórmulas 4001 B y planillas 116 B.
4. Disposiciones generales.
5. Se mantienen en vigor las disposiciones referidas al plazo de entrega de las divisas provenientes de exportaciones.
6. Los créditos documentarios que se abran al amparo de Convenios de Créditos Recíprocos, no deben contener cláusulas que impidan la emisión de una o más ABLA en el país del exportador.
7. En función de lo señalado en el punto 6.3., cuando se trate de importaciones cubiertas por créditos documentarios que hayan dado origen a la emisión de una o más ABLA en el país del exportador, este Banco rechazará cualquier débito en sus respectivas cuentas de convenio cuando este originado un en reembolso en el que no se hayan cumplido las condiciones a que se hace referencia en el citado punto.
8. Las solicitudes de fórmulas 2813 como así también de las letras de cambio, se deben realizar mediante la presentación de la fórmula 1794 ante el Departamento de Secretaria General, División Registro y Archivo.
9. Otras informaciones.
10. Por ley 21.467 se exime del impuesto a las ganancias a los beneficiarios derivados de las aceptaciones Bancarias Latinoamericanas "ALALC".
    2.3.81 2