BSP CIRCULAR LETTER, JUNE 14, 2002, June 14, 2002

[ BSP CIRCULAR LETTER, JUNE 14, 2002, June 14, 2002 ]

IMPORTATION OF "CHLOROFLUOROCARBON AND OTHER OZONE DEPLETING SUBSTANCES" REGULATED BY THE ENVIRONMENTAL MANAGEMENT BUREAU (EMB)-DEPARTMENT OF ENVIRONMENT AND NATURAL RESOURCES (DENR)

As requested by the EMB-DENR, all authorized agent banks and their importer-clients are reminded to strictly comply with the requirement under Appendix 1 of CB Circular No. 1389, as amended by BSP Circular-Letter dated October 19, 1995 that the importation of "Chlorofluorocarbon (CFC) and Other Ozone Depleting Substances" falling under PSCC Code Nos. 511.36-03 / 511.36-04 / 511.37-00 / 511.38-01 and 511.38-09 needs clearance/permit in the form of a pre-shipment Importation Clearance (PSIC) from the EMB-DENR.

If the importation is payable under a Letter of Credit (L/C), the said PSIC from EMB-DENR must be submitted to the commercial bank concerned before the L/C is opened, pursuant to Section 9 of the said Circular.

Please be guided accordingly.

Adopted: 14 June 2002

(SGD.) CELIA M. GONZALEZ Director