To clarify the requirements under BSP Circular No. 29 dated June 23, 1994 for the submission to BSP of FED Form No. 1 Schedules pertaining imports and exports

CIRCULAR LETTER Series of 1995

TO : All Authorized Agent Banks (AABs)

To clarify the requirements under BSP Circular No. 29 dated June 23, 1994 for the submission to BSP of FED Form No. 1 Schedules pertaining imports and exports, the following guidelines shall be observed by AABs:

Supporting documents to such Schedules (specifically Schedules 9 and 10 for exports and Schedules 11, 12, 13 and 14 for imports) are no longer required to be submitted to BSP.

Hence, documents such as copies of Export Declarations, import L/Cs or shipping documents pertaining to said Schedules need not be submitted to BSP.

Likewise, reports on import L/Cs outstanding, L/C amendments or cancellations and all other reports which are not included in said Schedules are not to be submitted to BSP except if requested from time to time by FED for verification/monitoring purposes. Such FED requests, if not in writing, shall be confirmed with Mr. Wilfrido B. Pastrana, Deputy Director, Trade & Investment Group, FED.

However, documents required for registration of D/A-O/A imports, under BSP Circular No. 40 dated August 27, 1994, shall continue to be submitted to BSP thru FED.

Any requests for clarification/inquiries on BSP Schedules pertaining to imports or exports shall be addressed to FED Deputy Director Pastrana for appropriate action/reply.

F. ENRICO R. ALFILER Director