Certificate of Inward Remittance

ana. Sentral na - inas

INTERNATIONAL OPERATIONS DEPARTMENT

CIRCULAR-LETTER

Series of 2003

To (KBs) and Offshore Banking Units (OBUs) Ail Expanded Commercial Banks (EKBs), Commercial Banks

Subject : Certificate of Inward Remittance (CIR) Form

issued by an AAB for inward foreign investment registration purposes, shall use the exchange and/or its conversion to pesos thru an Authorized Agent Bank (AAB) attached form. Effective immediately, any Certificate of Inward Remittance (CIR) of foreign

and Custodian Banks dated 1 February 2000 on the same subject. This Circular-Letter supersedes BSP Circular-Letter to All Commercial Banks

CELIA M. GONZA Wa' h. Director

Att.: als

June (V,2003

MAG-IMPOK SA BANGKO

MAYNILA, PILIPINAS 1004 . Tel No. 524-70-1! trunkline - URL: www.bsp.gov.ph - e-mail: [email protected]

Revised Form June 2003

CertiFicate oF InWArd reMittANce (cir) OF FOREIGN EXCHANGE NO. CCYY-NNNNN-BBBB

Name of issuing Bank

TO THE BANGKO SENTRAL NG PILIPINAS

A Part I. D Received an inward remittance of foreign exchange (FX), with the following particulars: This is to certify that this Bank (mark applicable box/boxes) 0 B particulars: Converted FX to Pesos, with the following

1 Name of Remitter: 8. a) FX Full Utilization of FX Recoived: converted to Pesos:

2 3 Beneficiary of Foreign Currency Funds: Country Code of Remitter: Global Custodian: Yes NO D Partial Utilization of FX Received: O/S Batance after this Utilization:

A Remitting Foreign Bank: b) Rate of charges): Foreign Conversion, Currency Pesos per before

5 6. Date of Remittance: Remittance/Telegraphic Transfer Ref. No.: } C FX Receiving Bank's Name: Amount of Peso" Date Converted to Pesos: charges) "Proceeds (net of

N FX Received: Currency: Total T/T Amount Amount Utilized O remitted is other than US$): Us$ Equivalent {if foreign currency T/T Ref. No CiR No.

7

O/S Balance after this CIR Utilization:

Part It This is to further certify that (mark and fill up applicabie box):

C3 The said peso proceecs were deposited with this bank or pIoCeeos Were credited to" cfient's" C The peso proceeds have been paid to the beneficiary under Mc No.: cc No. CHC Ref

Document (BSRD) for the inward foreign investment of this This Certificate is issued for the sole purpose of obtaining a Bangko Sentral Registration Date of this Certification Namo and Nationality of Investor

Name of Branch/Department in Head Office Signature of Authorized Officer Over Printed Name

Contact Teiephone No.: Fax No.: Position

GUIDE/INSTRUCTIONS FOR FILLING-UP CIR FORM Revised June 2003

GENERAL INSTRUCTIONS

investments in the investee-firm. Only one CIR shall be issued and only the originai of each CiR shall be the basis. among other requirements, for the issuance of a BSRD unless with prior specific BSP said bank, or to the BSP-international Operations Department (IOD), for PSE listed securities directly registered by BSP and all other investments within two (2) banking days after receipt of request to do so by the investor, his representative or the the bank shall submit the same to the BSP with a covering letter Attention: Direct Equity investments Division (DEID) specifying that the CIR is being submitted to approval. The original of each CIR shall be submitted by the issuing bank to a custodian bank, for PSE listed securities requested by the investor to be registered with custodian bank. ' If the CiR to be issued is to fund a direct foreign equity investment, support the application for registration of the particular foreign investor's direct equity

2 If the bank receiving the FX is also the bank converting the FX to pesos, it shall fulty filf.

up and accomplish Parts I and I! of the CIR.

3 If the receiving bank is different from the converting bank, the receiving bank shall fully fill-up and accomplish only Nos. 1 to 7 of Part i and submit a copy of the CIR so accomplished to the converting bank which shall then issue a CiR by filling up and accomplishing Nos. 8 (a to e) and 9 of Part i and ii only.

Part Il of the certification shall be fifled-up only by the converting bank.

C Vice President or Head of the Branch. The name of the bank officer must be specifically designated by the bank's Executive

TI. SPECIFIC INSTRUCTIONS

CIR NUMBER FORMAT -- CCYY-NNNNN-BBBB (e.g. 2001-00001-BBBB) NNNNN is the series nurmber of the CIR. (00001 is the issuing bank's first CIR) BBBB is the BSP assigned numeric bank code CCYY is the year the CIR is issued

PART i-A. (ttems 1.to 7 to be fified-up.by the FX receiving bank)

NAME OF REMITT'ER - if information is available, indicate if foreign investor is a global custodian. (Length should not exceed 50 characters). 2 COUNTRY OF REMITTER - states the domicile or country of residence of the investor or global custodian (Length shouid be 3 bytes and refer to Annex 2 for the coding scheme) 3 recipient (Length should not exceed 50 characters). BENEFICiARY OF FOREIGN CURRENCY FUND -- acCOunt name / company name of the

4 funds (Length should not exceed 50 characters). REMITTING FOREIGN BANK -- name of overseas bark thait sent the foreign currency

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5 DATE OF REMITTANCE - the value date that the foreign funds entered the books of the bank. Fieid format is ccyymmdd (e.g., 03-April-2001 will be indicated as 20010403). The same format is standard for all date fields in the report.

6 REMITTANCE / TELEGRAPHIC TRANSFER REFERENCE NO. - COntains the bank's

unigue reference number only (Length should not exceed 50 characters).

I. FX RECeveD:

Currency - specifies the foreign currency symbol used in the BSP Reference Exchange Rate Bulletin.

Total T/T Amount - the gross FX amount covered by the bank's unique Telegraphic Transfer Reference Number mentioned in Item 6 above.

Amount Utilized - specifies the actual amount of the funds utilized to fund the investment.

Outstanding Balance After Thsis CiR Utitization -- specifies the remaining balance of the gross FX received less the amount utilized.

Part I-A need not be filled up by the FX converting bank that is not the receiving bank.

PART ji-B...(items 3 to.9 to be filled-up.by the FX converting bank}

8a FX CONVERTED tO PESOS:

Fult Utilization of FX Received -- specifies tre whole inwardty remitted FX converted to Pesos and utilized for investment.

{} Partial Utlization of FX Received - specifies the partial inwardly remitted FX

converted to Pesos and utilized for investmert.

O/s Balance after this Utilization -- the available inwardly rermitted FX after partial conversion/utilization.

8b. RATE OF CONVERSION, PESOS PER FOREIGN CURRENCY (before charges) - the decimal places (e.g., PHP50.280002). exchange rate used for the conversion to focal currency. Field value is expressed in six

3c AMOUNT OF PESO PROCEEDS (Net of Charges) - specifies the pesO prOCeeds from the conversior net of bank charges

d. DATE CONVERTED TO PESOS - value date of conversion to iocal currency.

Be. FX RECEIVING BANK'S NAME - the name of the Philippine-based bank from which the foreign currency funds were received. Please use the numeric bank code (head office)

CIR No.: Quotes the CIR Reference number of the FX Receiving bank

Telegraphic Transter Ref. No.: Cuotes the Telegraphic Transfer Reference Number of the FX received.

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9 3rd currency amount converted into Peso. This is a mandatory field for remittances other US$ EQUIVALENT (If FX remitted is other than US$} -- shows the US Dollar value of the than US$ and computed as peso proceeds divided by the BSP reference rate (PHP/US Dollar) on the conversion date.

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