"2009 - Year of Tribute to Raúl SCALABRINI ORTIZ" COMMUNICATION “A” 4929 08/04/2009 TO FINANCIAL ENTITIES, TO ELECTRONIC CLEARING CHAMBERS:
Ref.: Circular
OPASI 2 - 398
SINAP 1 - 14
"Official Named Payment Order (OPON)".
Implementation.

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We address you to inform you that this Institution adopted the following resolution:

• To admit that financial entities issue the "Official Named Payment Order" -in pesos- through the Electronic Clearing Chambers, under the operational conditions contained in Annexes I and II, which form part of this resolution.
  We salute you very attentively.
  CENTRAL BANK OF THE ARGENTINE REPUBLIC
  Raúl O. Planes José I. Rutman
  General Manager of Payment Means
  General Manager of Standards
  ANNEX

-1-

1. Official Named Payment Orders may be issued by non-financial public sector entities against accounts in their ownership, when this has been expressly agreed with the financial entity in which the account is held.
2. They shall adhere to the model contained in Annex II, taking into account the specifications for their design -including dimensions-, use of CMC 7 magnetic characters, paper to be used, color and security measures that will be established in due course in the regulations on "Characteristics of payment instruments issued by financial entities".
   Likewise, regarding operational procedures and deadlines, similar rules to those governing the clearing of checks shall apply; however, the image of the front and back of all such documents must be transmitted, regardless of their amount.
3. Both the original beneficiary and the assignee -in the event that the credit derived from the public works certificate has been assigned to a financial entity- may present the Official Named Payment Orders for collection at financial entities for subsequent crediting to the account of the original beneficiary or the assignee, as applicable, through clearing via the Electronic Clearing Chambers.
   In the latter case, the data provided for on the back of the document as established in Annex II must be integrated, which must be completed by the assignor and certified by the entity receiving the Official Named Payment Order. Likewise, prior to the assignment of said document, registration must be carried out, in accordance with the procedure provided for in point 4.2 of Section 4 of the Regulation of the Bank Current Account.
4. They must be drawn in pesos and to the order of a specific person.
5. They do not allow endorsements, except for the purpose of being paid by cash or credited to the account of the original beneficiary or the assignee, in the case provided for in point 3.
6. The rules governing checks, bills of exchange and other negotiable or credit instruments do not apply to these payment orders. The receipt of an Official Named Payment Order does not exempt the assignee bank from the rights emanating from a public works certificate to instrument such assignment in accordance with applicable laws.
   B.C.R.A.
   Rules to which the
   Official Named Payment Orders will be subject
   Annex I to
   Com. “A”
   4929

-2-
Security measures similar to those of the check will be implemented and a color in the pastel tone will be established.
BACK

(receiving entity)

(assignment data)

B.C.R.A. Model of Official Named Payment Order (OPON)
Annex II to
Com. “A”
4929
OPON
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Authorized Signature of the Issuer
ENTITY-BRANCHDATE OF PRESENTATION
TO REGISTER:
………………
RESERVED TO CURE
FORMAL DEFECTS
………………
REGISTERED - WITH DATE:
......OF……....OF......
STAMPS OF THE ENTITY
DRAWEE
SIGNATURES AND CLARIFICATION:
......