PROCEDURES FOR IMPORTING Clause Samples

PROCEDURES FOR IMPORTING. Importing into Brazil involves procedures similar in complexity to those found in any other country. All import procedures are performed through the Integrated Foreign Trade System (Sistema Integrado de Comercio Exterior – SISCOMEX), which interconnects government agencies to all agents engaged in export and import activities. The Foreign Trade Secretariat (Secretaria de Comércio Exterior – SECEX), a subordinate body of the Ministry of Development, Industry, and Foreign Trade (MDIC), has primary responsibility for implementing the mechanisms and instruments employed in the oversight and enforcement of export and import transactions. Additional key agencies include the Brazilian Federal Revenue Department (Secretaria da Receita Federal do Brasil – SRFB), a unit of the Ministry of Finance, responsible for the applicable customs, fiscal, and tax procedures, and the Brazilian Central Bank (BACEN), responsible for implementing the country’s financial and foreign exchange rules. The administrative procedures for importing into Brazil involve the following requirements: (i) certification of the importer’s eligibility on the SISCOMEX; (ii) classification of the imported goods; (iii) submission of the Pro Form Invoice; (iv) registration of the transaction on the SISCOMEX; (v) import licensing (licensing requirements are waived for the bulk of goods); (vi) loading of goods in the country of origin;