Measure Eases Brazil's Export Financing Operations

(MENAFN- Brazil-Arab News Agency (ANBA)) Brasília – Brazilian exporters using the Financing Exports Program (Proex) will be able to change shipment dates without losing access to financing. Brazil's National Monetary Council (CMN) approved on Thursday (26) changes that relax deadlines, reduce bureaucratic requirements, and expand the program's scope.

One of the main changes is the ability to reschedule shipment dates. However, any date change will require an agreement between the exporter and the Proex financial agent when adjustments to the operation's timeline are needed.

The new resolution also extends the deadline to prove exportation after the scheduled date from 15 to 30 days. In addition, it allows for an extension of the disbursement request deadline, provided there is budgetary and financial availability.

The new resolution also extends the deadline to prove exportation after the scheduled date from 15 to 30 days. In addition, it allows for an extension of the disbursement request deadline, provided there is budgetary and financial availability.

Less bureaucracy

To reduce costs and simplify procedures, the CMN has exempted exporters from proving the non-financed portion in credit operations with terms shorter than two years.

Another change expands the program's target audience, allowing access through trading companies, which act as intermediaries between exports and imports. However, the authorization applies only to goods produced in Brazil or services provided by a Brazilian company.

Clearer penalties

The resolution also changes the rules for operation mischaracterization. The previously planned financial charge has been replaced by a fine calculated according to a specific methodology included in the regulation. According to the government, the change provides“greater clarity, proportionality, and legal certainty” in handling potential irregularities.

Created in 2001, Proex is one of the main official tools supporting Brazilian exports, allowing national companies to offer financing on terms comparable to those in the international market.

The new rules take effect on the date the resolution is published.

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Translated by Guilherme Miranda

Ports of Paraná

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