MINISTER OF TRADE SET A SPECIAL PROVISIONS MANDATORY L / C
Posted on April 09, 2015 on 20:15:59 WIB
Minister of Trade, Rahmat Gobel issued Decree No. 26 / M-DAG / PER / 3/2015 About Special Provisions Execution Using a Letter of Credit (L / C) for the Export of Certain Goods on March 30, 2015.
The Regulation No. 26 of 2015 is basically a set of two things, namely the suspension of the use of the method of payment L / C for exporters and providing the opportunity for Indonesian Export Financing Agency (LPEI) to be able to participate in the process of payment by L / C.
"The suspension can only be done by meeting the specified requirements. It is intended to allow time for exporters to adjust and revise contracts that have been made and signed prior to the determination of the Regulation No. 04/2015 in order not to hinder the export process," said the Minister.
Furthermore, the minister explained, the suspension was given by the Minister of Trade after a consideration of the relevant technical minister to meet the specified requirements.
"In this regard, the Minister of Energy and Mineral Resources (ESDM) for oil products and gas, coal, and minerals (including lead); and the Minister of Agriculture for CPO (crude palm oil) and CPKO (crude palm kernel oil), "said the minister.
After the suspension of the use of the method of payment L / C for the export of certain goods is given, then the post-audit will be carried out by a team that will be established by the team of the Minister.
If the result of post-audit is not true, then it will be penalized ie termination of suspension so that exporters will not be able to export except by changing the mode of payment by using the L / C.
The Minister added that other sanctions will be imposed in accordance with the applicable legislation.
In the method of payment L / C, other than through the Foreign Exchange Bank in the country, the method of payment L / C can be done through export financing institution established by the Government are obliged to follow the provisions of the Foreign Exchange Regulation of Bank Indonesia On Export results.
"Through the Regulation 26/2015, we hope, the transition process using the method of payment L / C could take place so what is the purpose of the Regulation 4/2015 can be achieved," concluded Minister.