Circular No. 1846 — Regulates the assignment of credit rights held by Brazilian exporters generated in contracts for the sale of goods and services abroad

CIRCULAR NO. 001846

REGULATES THE ASSIGNMENT OF CREDIT RIGHTS, HELD BY BRAZILIAN EXPORTERS, GENERATED IN CONTRACTS FOR THE SALE OF GOODS AND SERVICES ABROAD.

WE COMMUNICATE THAT THE BOARD OF DIRECTORS OF THE CENTRAL BANK OF BRAZIL, IN A SESSION ON 11.14.90, BASED ON ARTICLE 11, PARAGRAPH III, OF LAW NO. 4,595, OF 12.31.64, AND TAKING INTO ACCOUNT THE PROVISIONS IN ARTICLES 12 AND 13 OF RESOLUTION NO. 1,762, OF 10.31.90, DECIDED:

ART. 1. ASSIGNMENTS OF CREDIT RIGHTS IN FOREIGN CURRENCIES, HELD BY BRAZILIAN EXPORTERS AND GENERATED IN THEIR CONTRACTS FOR THE SALE OF GOODS AND SERVICES TO THE FOREIGN MARKET, ARE ADMITTED.

SINGLE PARAGRAPH. IN THE SERIES OF TRANSFERS THAT IS ESTABLISHED, LEGAL ENTITIES THAT ARE OR ARE NOT
PART OF THE NATIONAL FINANCIAL SYSTEM, DOMICILED OR WITH HEADQUARTERS IN BRAZIL, MAY APPEAR.

ART. 2. THE EXPORTER REMAINS OBLIGATED TO NEGOTIATE WITH A BANK AUTHORIZED TO OPERATE IN FOREIGN EXCHANGE, IN THE COUNTRY -- UNDER THE TERMS AND CONDITIONS PROVIDED FOR IN THE REGULATIONS GOVERNING THE PAYMENT OF BRAZILIAN EXPORTS -- THE FOREIGN CURRENCY VALUE CORRESPONDING TO THE EXPORT CARRIED OUT; AS A RESULT, THE ASSIGNMENT WILL BE MADE FOR RECEIPT AND PAYMENT EXCLUSIVELY IN NATIONAL CURRENCY, BY ITS EQUIVALENT IN FOREIGN CURRENCY.

ART. 3. THIS CIRCULAR ENTERS INTO FORCE ON THE DATE OF ITS PUBLICATION.

BRASÍLIA (DF), NOVEMBER 20, 1990

ANTONIO CLÁUDIO SOCHACZEWSKI GUSTAVO JORGE LABOISSIÈRE LOYOLA DIRECTOR DIRECTOR