South African Export Exchange Controls Pieter Ehlers Financial Surveillance Department South African Reserve Bank

Introduction Unique Consignment Reference (UCR) compilation Reporting: General Balance of Payment categories applicable to exports FinSurv Reporting: All export transactions FinSurv Reporting: Third party export transactions Matching Summary

No changes to first 11 characters Alpha numeric, no special characters Unique Consignment Reference compilation (Block 28 of SAD 500 and FinSurv Reporting System Last digit of the year of export (1) SWIFT Country Code (2) Last 24 digits: Unique number exporter will use to link export proceeds with a specific export. Can be invoice, quotation, order, contract, client specific number or name of the foreign customer, etc.. (1 – 24) Customs Client Number (8) Z A 3 1 4 5 No changes to first 11 characters 2 3 1 5 6 4 8 9 7 10 11 2 3 1 5 6 4 8 9 7 10 11 12 14 15 13 17 18 16 20 21 19 23 24 22 26 27 25 29 30 28 32 33 31 35 34 Unique characters12-35 Alpha numeric, no special characters 12 14 15 13 17 18 16 20 21 19 23 24 22 26 27 25 29 30 28 32 33 31 35 34 Avoid certain specialised characters 12 character minimum : 35 characters maximum

Export data post-clearance with CCN & UCR Reporting SARB receives two streams of data. Customs provide SARB with export data. Banks report to SARB the cross-border transactions via the FinSurv Reporting System. CUSTOMS Export data post-clearance with CCN & UCR CCN or UCR Export proceeds with CCN & UCR AUTHORISED DEALERS SARB 4

101 Balance of Payment categories - exports Description CAT SUB CAT 01 to 11 Advance payment 101 01 02 03 04 05 06 07 08 09 10 11 Excluding the below named Capital goods Gold Platinum Crude oil Refined petroleum products Diamonds Steel Coal Iron Ore Exported via the SA Post Office

Balance of Payment categories – exports (ctd) SUB CAT Description 101 01 to 11 Receipt of advance payments 01 to 11 103 Exports excluding advance payments 101 Consumables supplied in port 105 Repayment of trade finance for exports 106 Exports with customs value of less than R500.00 107 Payments for export goods declared as luggage (no UCR) 108 01 to 09 109 Good purchased by non-residents where no physical export will take place – excluding Merchanting Merchanting 110

FinSurv Reporting of payment: All exports The UCR is reflected in the field applicable to the UCR under the Import / Export data element of the transaction reported to the SARB. The entity who receives the export proceeds is reflected as the account holder, with the Customs Client Code allocated to the account holder.

FinSurv Reporting of payment: Where a third party is the actual exporter In cases where the actual exporter, who completed the SAD 500, does not receive the export proceeds, the details of the actual exporter must be reflected under the Third Party Details of the transaction reported to the SARB. The entity who receives the export proceeds is reflected as the account holder, with the Customs Client Code allocated to the account holder.

FinSurv Reporting of payment: Where a third party is the actual exporter The Customs Client Code of the third party is reflected under the Third Party Details. The UCR is reflected in the field applicable to the UCR under the Import / Export data element of the transaction reported to the SARB.

FinSurv Reporting of payment: Where a third party is the actual exporter

Matching of data: Micro and Macro 1st leg: Physical Export 2nd leg: Payment for goods 1 3 RESIDENT EXPORTER RESIDENT EXPORTER Payment advice 3ZA00011111454 Micro 3ZA00011111454 USD 12,000,000.00 USD 12,000,000.00 00011111 Macro 0011111 2 4 CUSTOMS SARB AUTHORISED DEALER Non SA NON-RESIDENT IMPORTER

Summary Financial Surveillance Department (FinSurv) monitors exports with the Electronic Export Monitoring System. Non receipt of export proceeds is followed up by FinSurv with the exporter’s Authorised Dealer. Failure to comply with Exchange Control Regulations may lead to FinSurv applying remedies available, i.e. prosecution for transgressing the regulations.

Email address: SARB-TRADE@resbank.co.za Questions Email address: SARB-TRADE@resbank.co.za