Resolution CMN No. 5143 — Amends Resolution CMN No. 4.897 to Allow Pre-Export Disbursement under Proex Financing

RESOLUTION
CMN NO. 5,143, OF JUNE 26, 2024

Amends
Resolution CMN No. 4,897, of March 25, 2021, to allow pre-export disbursement under the Proex Financing modality.

The
Central Bank of Brazil, in accordance with Art. 9 of Law No. 4,595, of December 31, 1964, makes public that the National Monetary Council, in a session held on June 26, 2024, based on Art. 4, caput, item VI, of the aforementioned law, and considering the provisions of Art. 3 of Law No. 10,184, of February 12, 2001,

R E S O L V E D :

Art.
1º Resolution CMN No. 4,897, of March 25,
2021, published in the Official Gazette of the Union on March 29, 2021, shall enter into force with the following alterations:

“Art. 14. ....................................................................................................................

I - financing to the exporter (supplier’s credit), in the case of negotiation of the respective titles, documents of export, commercial export contract or proforma invoice; or

.........................................................................................................................” (NR)

“Art. 15. ....................................................................................................................

..................................................................................................................................

IV - .............................................................................................................................

a) in the case of financing to the importer (buyer’s credit), the start of the financing period shall be on the date of signing or commencement of validity of the financing contract;

b) in the case of consolidation of shipments, the start of financing shall be on the date of the first consolidation of shipments of goods or billing of services, observing the provisions of Art. 16, § 1º; and

c) in the case of pre-export disbursement, the start of financing shall be on the date of disbursement, observing the provisions of Art. 18, §§ 4º and 5º;

V - first amortization of the financing: three or six months after the date of the initial milestone for amortization provided in Art. 16, according to the frequency of amortization;

VI - .............................................................................................................................

...................................................................................................................................

b) in the case of Project
Finance and Commissioning, the interest rate shall be the one in effect on the date of the first shipment of goods or billing of services;

c) in the case of consignment sale, the interest rate shall be the one in effect on the date of issuance of the invoice; and

d) in the case of pre-export disbursement, the interest rate shall be the one in effect on the date of disbursement;

...................................................................................................................................

§ 3º The portion of the export shall not be financed:

I - received in advance by the exporter; or

II - which is already the object of financing in the pre-shipment or post-shipment phases at any financial institution.” (NR)

“Art. 17. ....................................................................................................................

...................................................................................................................................

V - the final date for the request for disbursement to the Proex financial agent is sixty days after the date of shipment or delivery of the goods, the invoice, the commercial contract or the financing contract, or the date of consolidation of shipments or billing of services, whichever occurs last, observing the provisions of Art. 18, § 4º.

.........................................................................................................................” (NR)

“Art. 18. ....................................................................................................................

...................................................................................................................................

§ 2º In the case of export financing less than 100% (one hundred percent), the exporter must, prior to disbursement, prove payment of the non-financed amount or declare receipt when there is no internalization of resources, with the exception of the percentage related to the agent’s commission, which must be proven by the date of settlement of the financing.

...................................................................................................................................

§ 4º At the request of the exporter, in the pre-shipment phase, the disbursement of resources may occur up to eighteeno days in advance of the actual shipment of goods, billing of services or respective consolidation.

§ 5º In the case provided for in § 4º, the proof of which refers to item I of the caput may occur after the disbursement, within a maximum period of fifteen days after the date scheduled for the shipment of the goods, the billing of services or the respective consolidation, as applicable.” (NR)

“Section
VI

Of
Infractions and Sanctions

Art. 20. ............................................................................................................

.........................................................................................................................” (NR)

“Art.
20-A. The financing operation shall be disqualified when:

I - the goods or services financed are not exported by the date scheduled for shipment or billing, except in case of fortuitous event or force majeure;

II

• the goods or services exported were not manufactured or provided by the
  exporter, in the case of pre-shipment disbursement of goods or billing of services; or

III

• the exporter does not present the documents and information necessary for
  monitoring the operation, as well as those required for disbursement, or presents false documents or information.

§
1º The financed value of the disqualified operation must be reimbursed to the Union by the exporter, in reais – R$, converted by the variation index of the exchange rate, for sale, of the United States dollar, published by the Central Bank of Brazil (Ptax), corresponding to the day of disbursement, monetarily corrected by the average reference rate of the Special Settlement and Custody System – Selic from the date of disbursement until the day immediately preceding the reimbursement, and added of a financial charge calculated according to the methodology of Resolution CMN No. 5,056, of December 15, 2022, without prejudice to other applicable sanctions.

§
2º In the case of partial export, the financing shall be partially disqualified, in proportion to the export not carried out within the period defined by item I of the caput.

§
3º The exporter who has more than 15%
(fifteen percent) of the operation disqualified under this article shall not contract a new operation under Proex, from the disqualification until five years after the date of reimbursement to the Union, as per § 1º, except in the case of fortuitous event or force majeure provided for in item I of the caput of this article.

§
4º The Proex financial agent shall operationalize the assessment of values and the reimbursement process of the disqualified operation referred to in this article.” (NR)

Art. 2º This Resolution enters into force on the date of its publication.

ROBERTO
DE OLIVEIRA CAMPOS NETO

President of the
Central Bank of Brazil