CADIVI definition
Examples of CADIVI in a sentence
In the event that SENECA obtains conversion approval from CADIVI not less than five (5) days before the Closing, SENECA will be able to transfer the amount of the Pending Lease Payment to the Seller or its affiliate, provided that SENECA has previously received from the Seller or its affiliate the amount in Bolivars of the Pending Lease Payment.
Any new buyers, or existing buyers with no track record of having accessed funds through CADIVI, would need to be approved by EDC.
A further condition is that it will apply only to existing buyers who have been able to obtain funds through the CADIVI process during 12 months prior to September 1st, 2004.
Regarding this matter Banesco Seguros, C A., requested authorization to purchase foreign currency from the Currency Administration Commission (CADIVI) in order to pay the reinsurers: however said authorization has not yet been granted.
CADIVI has issued certain rules related to the registrations, guidelines, requirements and conditions related to the foreign currency administration.
Since then, the Foreign Exchange Administration Commission (CADIVI) is in charge of coordinating, administrating, controlling and establishing the requirements, procedures and restrictions that the execution of said agreement would require.
Approvals from CADIVI are subject to availability of foreign currency and registration of the foreign investments with SIEX (Venezuela’s foreign investment agency).
Remittance of distributions abroad (i.e., in U.S. dollars) to foreign investors requires the receipt of relevant approvals from CADIVI (Venezuela’s foreign exchange authority).