06/26/2024 – 20:08
The National Monetary Council (CMN) approved a resolution, at its meeting this Wednesday, 26th, to expand the scope of the Export Financing Program (Proex) and allow pre-shipment financing of Brazilian exports. This measure will benefit companies with less access to financing for this phase of exports.
Today, financing occurs in the post-shipment phase. In order for resources to be disbursed to exporters, it is necessary to previously prove the shipment of goods or billing for services. With the amendment to CMN Resolution No. 5,097/2023, which defines the eligibility criteria for financing operations, disbursement may occur up to 180 days in advance of export. In this case, proof must be provided within 15 days of the date set out in the approved schedule. Thus, financing will begin at the time of disbursement, and not at the time of export.
“The institution of this type of financing is an important instrument for companies with restricted access to other sources in this pre-shipment phase. Exports already covered by other financing in the post-shipment or pre-shipment phase, nor advances received by the exporter, are not eligible for the new modality”, says the note released by the Ministry of Finance after the CMN meeting.
If the exporter does not prove the operation by the scheduled date, if the exported goods or services are not manufactured or provided by that exporter, or when he does not present the required documents or falsifies them, that company will have to reimburse the corrected amounts to the Union If the mischaracterization of the operations exceeds 15% of their total amount, the exporter will be prevented from contracting with Proex for five years.
The note adds that the institution of this pre-shipment financing does not increase expenses for the National Treasury, as it is limited to the amounts already foreseen in the budget for the Proex Financiamento modality.
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