Directive No. 01/DCC/2019 on Foreign Exchange Policy - Information Reporting of Payment Commitment Declarations Issued by Commercial Banks for Merchandise Exports

THE GOVERNOR
DIRECTIVE NO. 01/DCC/2019
ORIGIN: Foreign Exchange Control Department (FCCD) DATE 05/02/2019 SUBJECT: Foreign Exchange Policy

• Information Reporting Regarding Payment Commitment Declarations Issued by Commercial Banks for Merchandise Exports

Whereas, pursuant to Notice No. 05/18 of July 17 regarding the rules and procedures applicable to foreign exchange operations for merchandise imports and exports, Commercial Banks intermediating export operations must issue a payment commitment declaration; Whereas it is necessary to define the method, channel, and periodicity of reporting the aforementioned information; This Directive hereby establishes the following:

1. Commercial Banks must submit to the Foreign Exchange Control Department, by 10:00 a.m. on the 15th of each month, information regarding Payment Commitment Declarations issued in the previous month, for which the merchandise has been shipped and corresponding documents delivered to the Issuing Bank.
2. In cases where advance payment is made, the submission of the information referred to in the preceding article must occur within the same timeframe, regardless of whether the merchandise has been shipped.
3. The information referred to in the preceding points must be submitted in XML format via the Financial Institutions Supervision System (SSIS).
4. Until submission in the aforementioned format is feasible, it must be sent in Excel format to dcc@bna.ao, in accordance with the template attached to this Directive.

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5. Violation of the rules set forth in this Directive is punishable under the following terms:
5.1 Failure to report the information stipulated in this Directive is punishable under Law No. 12/15 of June 17, the Financial Institutions Basic Law, and Law No. 5/97 of June 27, the Foreign Exchange Law, without prejudice to any other potentially applicable legislation.
5.2 Late submission of the information stipulated in this Directive is punishable under Notice No. 10/18 of November 29.
6. Questions and omissions arising from the interpretation and application of this Directive are resolved by the Foreign Exchange Control Department.
7. This Directive enters into force immediately.

Luanda, February 5, 2019.
FOREIGN EXCHANGE CONTROL DEPARTMENT

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Veloso Ndunguini Filipe Pedro
-Director-

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ANNEX I
Reporting Template
Payment Commitment Declaration

NAME	TAX ID	NUMBER	ISSUE DATE	NUMBER	ISSUE DATE	REFERENCE BANK	CDI NO.	OPENING DATE	ESTIMATED SETTLEMENT DATE	NUMBER	DATE	CURRENCY	OPERATION VALUE	USD EQUIVALENT
1	2	3	4	5	6	7	8	9	10	11	12	13	14	15
16	17	18	19	20	21	22

4. Provisional DU No./BNA No.: Export License Number (MINCO) or SINOC registration number when Merchandise < 5,000 USD
5. Currency: Code of the currency to be received
6. CIF Value: Amount to be received in foreign currency
7. Payment Commitment Declaration (Issue Date): Issue date of the declaration issued by the exporter's bank
8. Bank Reference: Registration identification number at the Bank
9. Letter of Credit (Number): Identification number of the Letter of Credit
10. Letter of Credit (Opening Date): Issue date of the Letter of Credit
11. Letter of Credit (Estimated Settlement Date): Forecast for partial or total settlement of the Letter of Credit
12. Received Payment Order (Date): Date funds enter the exporter's bank
13. Received Payment Order (Currency): Currency code received at the exporter's bank
14. Received Payment Order (Operation Value): Amount received by the exporter's bank in foreign currency
15. Received Payment Order (USD Equivalent): USD value corresponding to the amount received from abroad
16. Final DU (Issue Date): Issue date of the Final DU issued by the AGT
17. Payment Commitment Declaration (Number): Number of the declaration issued by the exporter's bank
18. Payment Modality: Payment method used in the operation
19. Received Payment Order (Number): Operation reference number (OPR)

Notes:

1. Issuing Bank: Abbreviation of the Banking Financial Institution domiciled in Angola
2. Exporter (Name): Full name of the beneficiary exporter
3. Exporter (TIN): Tax identification number of the Exporter in Angola
4. Final DU (Number): Number of the Final DU issued by the AGT

| NAME OF ORDERING PARTY | PAYMENT COMMITMENT DECLARATION EXPORTER | ISSUING BANK | PROVISIONAL DU NO. / BNA NO. | CURRENCY | CIF VALUE | PAYMENT MODALITY | FINAL DU | OPR: RECEIVED PAYMENT ORDER | COUNTRY OF ORIGIN OF FUNDS | LETTER OF CREDIT/DOCUMENTARY COLLECTION/REMITTANCE |