Directive No. 03-DCC-2019, dated October 25

GOVERNOR
DIRECTIVE NO. 03/DCC/2019
ORIGIN: Foreign Exchange Control Department (DCC)

DATE
25/10/2019
SUBJECT: Settlement of Letters of Credit under Quantity Auctions Given the need to shorten the settlement period for goods imported via letters of credit, under Quantity Auctions; This Directive serves to establish the following:

1. Without prejudice to compliance with Directive No. 03/DCC/2018, dated October 26, commercial banks must report the settlement requirements for letters of credit opened under Quantity Auctions as soon as the supporting documents proving the entry of goods into national territory are submitted.
2. The letter of credit number must be indicated in the designated field on the requirements schedule.
3. This measure applies to all Quantity Auctions conducted up to the effective date of this Directive.
4. Paragraphs 6 and 8 of Directive No. 03/DCC/2018, dated October 26, are hereby revoked.
5. This Directive enters into force immediately.

DIRECTIVE NO. 09/DCC/DRO/2019 Page 2 of 2
Luanda, October 25, 2019.
FOREIGN EXCHANGE CONTROL DEPARTMENT

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Veloso Ndunguini Filipe Pedro
-Director-