Documents and information to be provided for transfer applications
The purpose of this list is to set out the general principles governing the execution and control of foreign settlements and the Central Bank’s assessment of the three fundamental aspects studied during the analysis of the file:
- Proof of the transfer in the light of the external position declared by the bank.
- Production of supporting documents attesting to the reality of the transactions.
- Compliance with Regulation R09/2010/CM/UEMOA on the external financial relations of UEMOA Member States.
For more information, visit the BCEAO page: reglement-relatif-aux-relations-financieres-exterieures-des-etats-de-uemoa-textes-application.pdf (bceao.int)
Merchandise settlement transactions
Before importation
In accordance with foreign exchange regulations :
- Transfer request signed by the customer
- Exchange authorisation completed and signed
- Commercial invoice(s) showing the terms of the advance
- Intent to import issued by the bank (if other bank, certificate of non-imputation)
- A letter of undertaking from the customer to provide the BIVAC verification certificate (or any other equivalent document) and the transport document (BL/AWB) after importation.
After importation
In accordance with exchange regulations :
- Transfer request signed by the customer
- Exchange authorisation completed and signed
- Final commercial invoice(s)
- Intention to import domiciled with BICIM (if other bank, certificate of non-imputation)
- Transport document (BL/AWB)
With BCEAO for cover
- Documents required by foreign exchange regulations
- BIVAC verification certificate (COTECNA, depending on the License beneficiary at the time)
- + dunning letter from the supplier if the invoice(s) is (are) overdue
Fuel purchases
In accordance with foreign exchange regulations
- Transfer request signed by the customer
- Exchange authorisation completed and signed
- Final commercial invoice(s)
- Intention(s) to import domiciled with BICIM (if other bank, certificate of non-imputation)
- BL (bill of lading)
With regard to the BCEAO for cover
- Documents required by foreign exchange regulations
- Verification certificate or other equivalent document
- Quarterly statement of commercial debt
- Quarterly table of borrowings
- Forecast statement of borrowings
- Where applicable, a letter of extension justifying any difference of more than eight (08) days in relation to the projected statement of payments.
Foreign investment transactions
In accordance with foreign exchange regulations
- Transfer request signed by the customer
- Exchange authorisation completed and signed
- Contract proving the reality of the investment
To BCEAO for cover
- Documents required by foreign exchange regulations
- Information letter sent to the Minister of Finance
- Proof that the investment is at least 75% financed by foreign loans
- Amortisation schedule
Opérations de règlement de dividendes
In accordance with foreign exchange regulations
- Transfer request signed by the customer
- Exchange authorisation completed and signed
- Resolution of the General Meeting of Shareholders
To BCEAO for cover
- Documents required by foreign exchange regulations
- Company shareholding
- Certified statements for the financial year in question
- Up-to-date tax receipt
- Receipt of IRVM payment
- Minutes of the Board of Directors ruling on the allocation of profits
New vehicle purchases
Before Importation
In accordance with foreign exchange regulations
- Transfer request signed by the customer
- Exchange authorisation completed and signed
- Commercial invoice setting out the terms of the advance
- Intention to import issued by BICIM (if other bank, certificate of non-imputation)
- A letter of undertaking from the customer to provide the transport document (BL) and, if applicable, the BIVAC verification certificate (or any other equivalent document) in accordance with the statement(s) on the import declaration.
With regard to the BCEAO for cover
- Documents required by foreign exchange regulations
After Importation
In accordance with foreign exchange regulations
- Transfer request signed by the customer
- Exchange authorisation completed and signed
- Final commercial invoice with payment details
- Intention to import domiciled with BICIM (if other bank, certificate of non-imputation)
- BL (Bill of lading)
- Possibly a BIVAC verification certificate (or any other equivalent document), depending on the wording(s) on the intention to import.
To BCEAO for cover
- Documents prévus par La réglementation des changes
Payment for services
In accordance with foreign exchange regulations
- Transfer request signed by the customer
- Exchange authorisation completed and signed
- Invoice(s)
- Service contract indicating the basis for calculating the amount covered by the transfer request + any amendments to the contract
With regard to the BCEAO for cover
- Documents required by foreign exchange regulations
- Tax receipt Up to date
Freight settlement operations
In accordance with foreign exchange regulations
- Transfer request signed by the customer
- Exchange authorisation completed and signed
- Freight invoice (max. approx. €20,000.00 per container)
- Bills of lading (BL) corresponding to the freight invoice
To BCEAO for cover
- Documents required under foreign exchange regulations
- Final commercial invoice for the goods and merchandise transported
- Intention to import domiciled by BICIM (if other bank, certificate of non-imputation) of the invoice for the goods and merchandise transported
- The BIVAC verification certificate (or any other equivalent document) according to the indication(s) on the intention to import relating to the intention to import the goods and merchandise transported.
Technical assistance settlement operations
In accordance with foreign exchange regulations
- Transfer request signed by the customer
- Exchange authorisation completed and signed
- Invoice(s)
- Technical assistance contract indicating the basis for calculating the amount of the invoice + any amendment(s)
With regard to the BCEAO for cover
- Documents required by foreign exchange regulations
- Tax receipt up to date
Payroll transactions/savings
In accordance with foreign exchange regulations
- Transfer request signed by the customer
- Exchange authorisation completed and signed
- Salary slips
As required by BCEAO for cover
- Documents required by foreign exchange regulations
- Work contract
- Proof of employment less than three months old
