With the general shortage of credit in the international market
which resulted of the global crisis, the Brazilian Government
decided to reverse a measure adopted in last March, reducing the
cost of short-term financing to Brazilian exports and increasing
the number of originators of resources (lenders) for these
transactions. To be classified as "short-term financing"
the transaction must have a maximum repayment term of 360 days. The
reversion which is now being implemented will also facilitate the
entry of United States Dollars into Brazil.
On March 1, 2012, the Board of the Central Bank of Brazil
(Banco Central do Brasil - Bacen) issued Circular No. 3580
limiting the anticipation of funds to the Brazilian exporter by way
of advance export receipt (recebimento antecipado de
exportação ), also known as Advance Payment
(Pagamento Antecipado - PA), to the importer (the foreign
buyer of the Brazilian goods or services), as lender1.
On that occasion no other type of
