Instruction No. 27 on the Standardization of Promissory Notes

BANQUE CENTRALE DU CONGO THE GOVERNOR INSTRUCTION NO. 27 ON THE STANDARDIZATION OF PROMISSORY NOTES

The Central Bank of Congo

Having regard to Law No. 005/2002 of May 7, 2002, on the Constitution, organization, and functioning of the Central Bank of Congo, specifically Article 6, paragraph 3;

Having regard to Law No. 003/2002 of February 2, 2002, on the activity and control of credit institutions;

Having regard to the Decree of July 28, 1934, on bills of exchange, promissory notes, and protests;

Considering that the Central Bank of Congo is tasked with ensuring the proper functioning and security of payment systems and means, and in this capacity, ensures the relevance of the standards applicable to them;

Decrees the following provisions regarding the standardization of promissory notes:

Article 1: This instruction aims to establish the standards to be observed when creating promissory notes for their automated processing within the framework of clearing.

Article 2: This instruction applies to credit institutions and any other entity participating in the clearing house, hereinafter referred to as "regulated entities."

Article 3: The standardization of the promissory note covers:

• the physical characteristics of the promissory note;
• the printed part of the promissory note.

Article 4: The characteristics of the standardized promissory note include the quality and technical specifications of the paper, the color and nature of the prints, as well as the rules to be observed regarding the storage, shipping, and presentation of promissory notes for processing.

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Article 5: The printed part of the promissory note is that written in typeface and containing all mentions made mandatory by current legislation.

Article 6: The technical characteristics and the standardized model of the promissory note are described in the annex attached to this Instruction.

Article 7: When regulated entities use external service providers for the creation of standardized promissory note forms, they are required to verify their conformity with the provisions of this Instruction.

Article 8: The practical modalities for the dematerialized exchange of promissory notes within the framework of tele-clearing are fixed by the clearing house convention.

Article 9: This instruction enters into force six (6) months from the date of its signature. Upon expiration of this period, promissory notes that do not conform to the specifications of this instruction will no longer be eligible for clearing.

Done at Kinshasa, on [Date Illegible]

[Signature]

Déogratias TSHIBANDEANA NYEMBO Governor

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Annex Technical Characteristics and Standardized Model of the Promissory Note

This annex defines the technical characteristics and the standardized model of the promissory note.

1. Language The standardized promissory note model contains pre-printed texts in French.

2. Paper Characteristics The format of the promissory note is 80 mm in height and 175 mm in length. The paper used in its creation must meet the criteria for optical and mechanical processing. It must also be suitable for laser printers (thermoresistant). The paper for printing must be wood-free, free of magnetizable particles, opaque, sufficiently rigid, suitable for printing and manual writing. The other characteristics of the paper are:

3. Weight: grammage between 90 and 95 grams per square meter;

4. Thickness: between 0.05 and 0.177 mm;

5. Surface purity of the paper: from 50 to 200 units;

6. Bursting strength: 165 kilopascals (Kpa) (24 pounds force per square inch);

7. Porosity (according to Gurley technique): 12 seconds;

8. Rigidity (according to Gurley technique):

   • cross direction: 0.11 mN meters
   • machine direction: 0.25 mN meters

9. Tear resistance:

   • cross direction: 608 mN
   • machine direction: 539 mN

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The dimensions mentioned above are subject to a tolerance of 1 mm. However, an additional special tolerance is allowed on the height when it concerns the promissory note established by computer. This additional tolerance must not bring the total tolerance on the height beyond ±2.5 mm.

Halftone backgrounds or printed designs that may appear anywhere on the front or back of the standardized promissory note must have colors and patterns that in no way diminish the legibility of information written by hand or printed on the original document or on a reproduction from microfilm, image, or photocopy. The minimum contrast index of any pre-printed information on the front of the standardized promissory note must be 0.60 relative to the background. Said information should be printed in black or dark ink. Pastel color shades or standard anti-counterfeit security shades must be used for printing backgrounds. The use of inorganic clay and inks with a high reflectance rate, heavy inks, and dark colored inks must be avoided. The paper and ink used must allow for the obtaining, after scanning, of an image conforming to the original of the promissory note in 256 shades of gray.

3. Pre-printed Mentions

[Diagram representation of the note layout] 175mm

N°

PROMISSORY NOTE

I order you to pay to the order of [Beneficiary Name], the amount of this note to the bearer.

Order for payment

2 Name or Denomination of the Bank. Name or Denomination of the Subscriber

I declare that I order payment of the amount of this note to the order of [Beneficiary Name].

Place and Date

Name and Signature of the Subscriber

Place and Date

Order to the Subscriber

The standardized promissory note contains the following mentions:

1. The denomination "promissory note" and the pre-marked identifier of the promissory note (zone 1). This identifier must include the series number, the code of the promissory note in the series, as well as the check key which must ensure the reliability of the two preceding codes;

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2. the payment mandate (zone 2) of the promissory note. This mandate is materialized by the expression "against this promissory note stipulated without fees, we will pay the amount indicated below to the order of";

3. the name or denomination and address or headquarters of the subscriber (zone 3). The font size must be small so as not to clutter this zone;

4. the name or denomination of the beneficiary (zone 4);

5. the place and date of creation indicated in day/month/year (zone 5);

6. the maturity date indicated in day/month/year (zone 6);

7. the "amount in figures" and the currency used (USD or CDF) must appear on the standardized promissory note followed by a space reserved for the inscription of the amount in figures (zone 7). The amount of the claim in figures is inscribed in the relevant currency;

8. the amount of the claim in letters expressed in the relevant currency (zone 8). It must correspond to the amount in figures mentioned in zone 7;

9. the cause of creation of the promissory note (zone 9). It must specify the cause of the creation of said promissory note, namely sale of goods or provision of services. The filling of this zone remains optional;

10. the location reserved for the aval (zone 10). It must be filled by the avalist (third party or signatory of the promissory note). The name and signature of the guarantor must appear there;

11. the domiciliation of the subscriber (zone 11), namely their Bank Identity Statement (RIB). This zone should be pre-printed by the issuing institution;

12. the signature of the subscriber and their stamp if applicable (zone 12). This space located to the right of the form must be sufficient and free of printing to house the subscriber's signature, whether handwritten or electronic;

13. the mention constituting the authorization for the collection of stamp duties (zone 13);

14. the payment order given by the debtor drawn on their domiciliary bank (zone 14). This zone must contain the following mentions: "payment order";

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"please pay at maturity, by debiting my account, the amount of this promissory note to the order of the beneficiary";

the signature and stamp of the subscriber, if applicable. All these mentions must be legible.

4. Storage The attachment of metal fasteners to a promissory note and its storage in the form of folds are prohibited.

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