Notice No. 2/GGBM/2006 Amending the Regulation on the Import and Export of Goods and Services

Monday, 10 July 2006 I SERIES - Number 26
REPUBLIC GAZETTE
OFFICIAL PUBLICATION OF THE REPUBLIC OF MOZAMBIQUE NATIONAL PRESS OF MOZAMBIQUE NOTICE The matter to be published in the "Boletim da República" must be submitted in a duly authenticated copy, one for each subject, which must contain, in addition to the necessary indications for this purpose, the following endorsement, signed and authenticated: For publication in the "Boletim da República." SUMMARY Council of Ministers:
Resolution No. 25/2006:
Ratifies the Addendum to the Credit Agreement concluded between the Government of the Republic of Mozambique and the Official Credit Institute of the Kingdom of Spain, on 21 March 2006, in the amount of USD 3.1 million, intended for the financing of the Project for the Acquisition of a Power Plant for the City of Xai-Xai. Ministry of the Interior:
Ministerial Diploma No. 125/2006:
Grants Mozambican nationality, by reacquisition, to Zarina Jussub.
Bank of Mozambique:
Notice No. 2/GGBM/2006:
Amends Articles 1, 2, 3, 4, 6, 13 and 16 of Notice No. 6/GGBM/2005, of 25 May, hereinafter designated as the Regulation on the Import and Export of Goods and Services.

COUNCIL OF MINISTERS
Resolution No. 25/2006 of 28 June

Given the need to comply with the formalities provided for in the Addendum to the Credit Agreement concluded between the Government of the Republic of Mozambique and the Official Credit Institute of the Kingdom of Spain, and under the provisions of paragraph g) of paragraph 1 of Article 204 of the Constitution of the Republic of Mozambique, the Council of Ministers determines:

Sole Article. The Addendum to the Credit Agreement concluded between the Government of Spain, on 21 March 2006, in the amount of USD 3.1 million, intended for the financing of the Project for the Acquisition of a Power Plant for the City of Xai-Xai, is ratified.

Approved by the Council of Ministers, on 23 May 2006.
Publish.

The Prime Minister, Luísa Dias Diogo.

MINISTRY OF THE INTERIOR
Ministerial Diploma No. 125/2006 of 28 June

The Minister of the Interior, having verified that the provisions of Article 14 of Decree No. 3/75, of 16 August, combined with Article 16 of Law No. 16/87, of 21 December, have been complied with, and in the exercise of the power granted to him by Article 12 of the Nationality Law, determines:

Mozambican nationality is granted, by reacquisition, to Zarina Jussub, born on 23 June 1951, in Quelimane.

Ministry of the Interior, in Maputo, 29 November 2005.
— The Minister of the Interior, José Condugua António Pacheco.

BANK OF MOZAMBIQUE
Notice No. 2/GGBM/2006

Given the need to update Notice No. 6/GGBM/2005, of 25 May, which establishes minimum procedures to be observed in the process of import and export of goods and services, and to clarify issues raised with its implementation, the Bank of Mozambique, under the powers conferred upon it by the combined provisions of Articles 28 and 37, paragraph d) of Law No. 1/92, of 3 January - Organic Law of the Bank of Mozambique, and of paragraph 3 of Article 8 of Law No. 3/96, of 4 January - Exchange Law, determines:

1. Articles 1, 2, 3, 4, 6, 13 and 16 of Notice No. 6/GGBM/2005, of 25 May, hereinafter designated as the Regulation on the Import and Export of Goods and Services, are amended, and their structure and wording shall be as set out in the annex to this Notice.

2. Regarding operations already initiated, banks must adjust them to the provisions set forth in the attached Regulation within a period of 90 days.

3. This Notice enters into force immediately, establishing the discipline for the import and export of goods and services, and repealing Articles 12 to 17 of Notice No. 5/GGBM/96 (Regulation of the Exchange Law), as well as any other provisions that contradict it.

4. Issues arising from the interpretation of this Notice must be submitted to the Banking Supervision Department of the Bank of Mozambique, which will issue the instructions deemed necessary for its correct implementation.

Maputo, 29 May 2006. — The Governor, Adriano Afonso Maleiane.

ANNEX

Given the need to establish the principles to be observed in the process of import and export of goods and services, and to define the discipline governing these exchange operations, under the combined provisions of Articles 28 and 37, paragraph 2, paragraph d) of Law No. 1/92, of 3 January - Organic Law of the Bank of Mozambique, and of paragraph 3 of Article 8 of Law No. 3/96, of 4 January - Exchange Law, the Bank of Mozambique determines:

CHAPTER I
General Provisions

ARTICLE 1
(Object, scope and duty of verification)

1. This Notice establishes the rules and minimum procedures to be observed by banks in transactions involving payments or receipts related to import and export processes of goods and services through the national banking system.

2. In carrying out the operations referred to in this Notice, banks must verify the legal conformity of such operations and, in case of doubt regarding their legality, must refrain from carrying them out.

ARTICLE 2
(Definitions)

1. For the purposes of this Notice, the following are considered:
   a) Import - the operation between a resident and a non-resident resulting in the entry of goods into the national customs territory; b) Export - the operation between a resident and a non-resident resulting in the exit of goods from the national customs territory; c) Goods - movable property that may be the object of import and export, in this Notice also designated simply as "goods". d) Services - provision of assistance or performance of tasks by a non-resident in favor of a resident or vice-versa, or use of a good in analogous circumstances, without transfer of ownership of a material good, notably in the following areas of activity: transport, communications, travel, construction, insurance, IT, information, services related to trade, royalties and licenses, Government services and financing (excluding income, such as interest).

2. The classification of goods (merchandise) and services must be made in accordance with the current Table of Exchange Operations.

ARTICLE 3
(General payment modalities)

1. Subject to the exceptions provided for in this article, in the settlement of import operations of goods (merchandise) and services, only the following general payment modalities may be used:
   a) In the import of goods:
   (i) Documentary collection;
   (ii) Documentary credit. b) In the import of services:
   (i) Documentary collection;
   (ii) Bank transfer.

2. Except for the situation provided for in paragraph 3 of this article, no payment to the exterior should be made without the importer presenting documents proving the entry of goods into the national customs territory.

3. When there is a solid relationship of trust between the bank and the importer, payments may exceptionally be advanced, total or partially, on the condition that the importer commits to the bank to deliver the documents proving the entry of goods into the national customs territory within a maximum period of 90 days.

4. Payment for services should only be made upon confirmation of the provision of said services by the beneficiary, which must be endorsed on the respective commercial invoice.

5. In all cases of advance payment, made under paragraph 3 of this article, regardless of their value, a guarantee of equal amount must be obligatorily required, to be provided by a banking institution recognized by the importer's bank.

6. In the use of the modalities referred to in this article, banking customs and best practices of international trade must be taken into account, notably the rules and usages uniform issued by the International Chamber of Commerce.

CHAPTER II
Procedures related to import

ARTICLE 4
(Requirements to be observed in documentary credit)

When using documentary credit modalities, the initiative to open credit belongs to the importer, who must obligatorily include the following information:
a) Full and correct name of the beneficiary and respective address; b) Amount and currency of the credit; c) Type of credit; d) Reimbursement conditions; e) Brief description of the goods, including quantities and unit price, as indicated in the Proforma Invoice; f) Summary description of the required documents; g) Place of shipment and destination of the goods; h) Partial shipments permitted or not; i) Transshipments permitted or not; j) Validity for shipment (if applicable); k) Validity of the credit; l) Transferable credit; m) Revolving credit; n) Form of notification to clients (by telephone, telex, etc.)

ARTICLE 5
(Registration and organization of exchange operations)

1. Banks must register and organize the exchange operations they carry out in a careful manner, and for each payment modality there must be a sequential numbering and the indication of the year to which it refers.

2. This information must always be available and updated.

ARTICLE 6
(Mandatory documents)

1. Regardless of the modality adopted, for any import of goods, the following documents are required:
   a) Commercial invoice, at least in triplicate; b) Transport documents; c) Pre-Shipment Inspection Certificate, if applicable; d) Document proving the entry of goods, accepted by the Customs Authority.

2. Transport documents must be issued to the order of the Ordering Bank and, according to the type of transport used, the documents specified in the following table will be required:

Required Transport Documents
Transport Type | Required Transport Document Type --- | --- Maritime | Bill of Lading Air | Air Waybill Railway | Consignment Note Road | Road Transport Document or Export Declaration

ARTICLE 7
(Requirements of the commercial invoice)

The final Invoice must contain, when applicable, at least the following information:
a) Supplier/exporter, name, full address, Country, telephone and/or fax; b) Consignee/importer, name, full address, telephone and/or fax; c) Date of issue and respective number; d) Description of the goods; e) Quantities, brands, models, serial numbers, units, gross and net weight, volume or measurement, and other specifications according to the quality of the goods; f) Unit prices, value of the transaction and currency in which the values are expressed, and g) Delivery and payment terms.

ARTICLE 8
(Requirements of the transport or shipment document)

The Transport Document must obligatorily contain the following information:
a) The name of the carrier or authorized agent; b) Signature and stamp of receipt or other similar indications that the goods have been received for shipment; c) Indication of the place of loading and unloading of the goods; d) Number of originals issued in the case of bills of lading; e) Certify if there is concordance between the quantity and the description of the goods contained in the invoice; f) For road transport cases, the documents must contain the identification of the respective driver and vehicle registration; g) Other requirements required in the adopted payment modality.

ARTICLE 9
(Requirements of the pre-shipment inspection certificate)

In the verification of the Pre-Shipment Inspection Certificate, credit institutions must obligatorily verify:
a) If the document is issued by the requested entity; b) If it is signed; c) If the certificate complies with the requested inspection; d) If it does not contain any declaration prejudicial to the goods.

ARTICLE 10
(Other documents)

1. In addition to the documents mentioned above, others may be required depending on the exchange legislation of the seller's country.

2. In the verification of the documents referred to in this article, their consistency with the other documents comprising the process must be taken into account.

ARTICLE 11
(Document verification)

1. Documents must be rigorously verified by credit institutions taking into account the payment modality used.

2. After verification and settlement, the documents are endorsed and delivered to the importer.

ARTICLE 12
(Constitution of the process and filing)

For each operation, credit institutions must constitute an individual process in which the following documents must be included:
a) One copy of the single document, if applicable; b) Documentary credit, if applicable; c) Commercial invoice; d) Shipment document; e) Remittance letter (if applicable); f) Settlement and/or payment bordereaux; g) Correspondence received and sent regarding the transaction.

CHAPTER III
Procedures related to export

ARTICLE 13
(Export via documentary credit)

1. In exports, the following payment modalities are admitted:
   a) Checks and transfers; b) Documentary Credit; c) Documentary Collection.

2. It is incumbent upon banks to adequately assist exporters in the rigorous observance of the terms and conditions of the documentary credit for the immediate settlement of said export.

3. Before notifying the documentary credit to the beneficiary (Exporter), banks must ensure that the terms and conditions of credit are in accordance with the exchange legislation of the country, and if these are susceptible to being fulfilled within the established period.

4. In the event that there is any clause that cannot be fulfilled, the credit institution must recommend to its client (Exporter) that they request the Importer to make said alteration, which must be communicated by the importer's bank to the credit institution of the Exporter before the shipment of the goods.

ARTICLE 14
(Mandatory documents)

1. Exporters must present one copy of the Single Document.

2. The commercial invoice and the shipment document will obligatorily appear on the list of documents to be presented in any of the payment modalities.

3. Transport documents must be issued to the order of the exporter's bank and endorsed to the importer's bank.

ARTICLE 15
(Verification and negotiation of documents)

1. Documents must be rigorously verified by credit institutions taking into account the payment modality used, especially when it concerns documentary credit.

2. When the conditions are found to be fulfilled by the beneficiary (Exporter), the credit institution claims reimbursement under the terms provided in the documentary credit.

3. If the conditions have not been fulfilled, the credit institution has one of the following alternatives:
   a) Request the beneficiary to make alterations to the documents in accordance with the requirements of the Documentary Credit; b) Request authorization from the issuing or confirming bank to pay or negotiate with the enumerated discrepancies; c) Send the documents to the issuing or confirming bank for their decision on payment.

ARTICLE 16
(Export via documentary collection)

1. If the modality used for payment of the export is documentary collection, the documents will be examined by credit institutions taking into account the international regulations governing documentary collections.

2. After the bank's authorization for negotiation or to make the payment, the respective payment is made and the Single Document is used by affixing a stamp indicating the amount used and its respective date.

3. If they are in order, they are sent to the bank indicated by the Exporter (presenting bank) under a remittance letter where the reimbursement conditions will also be included.

ARTICLE 17
(Constitution of the process and filing)

For each operation, credit institutions must constitute an individual process in which the following documents must be included:
a) One copy of the Single Document; b) Documentary credit and respective alterations to the credit terms (if applicable); c) Remittance Letter to the Importer's Bank; d) Commercial invoice; e) Shipment document; f) Settlement bordereaux; g) Other telexes; h) Telex or payment confirmation.

CHAPTER IV
Final Provisions

ARTICLE 18
(General register)

Credit institutions must maintain a register for each type of operation (import or export) where the following data must appear:
a) Sequential number of the operation, preceded by the year of the operation; b) Name of the ordering party; c) Amount of the documentary credit; d) Type of documentary credit (irrevocable, revolving, etc); e) Name of the beneficiary; f) Negotiating bank; g) Confirming bank; h) Status of the credit (cancelled, settled or extended); i) One copy of the single document or equivalent document.

ARTICLE 19
(Entry into force and repeal)

This Notice enters into force immediately, repealing all provisions that contradict it.

ARTICLE 20
(Clarification of doubts)

Doubts arising from the interpretation and application of this Notice will be clarified by the Banking Supervision Department of the Bank of Mozambique.

The Governor, Adriano Afonso Maleiane