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SICAD Call No. 01-2014

On February 10, 2014, the National Center of Foreign Trade (Centro Nacional de Comercio Exterior – “CENCOEX”) called for auction No. 01-2014 to be made through the Complementary System of Foreign Currency Administration (Sistema Complementario de Administración de Divisas - “SICAD”) acting through the Universal Public Banking System. The persons convoked to take part in the auction are the following legal persons duly registered with the Registry of Users of the Complementary System of Foreign Currency Administration (Registro de Usuarios del Sistema Complementario de Administración de Divisas - “RUSICAD”) that meet the requirements established in the rules regulating the SICAD and that are domiciled in any part of the national territory:

 

1. Legal persons of the auto parts sector (consumable supplies, imported parts and pieces,  batteríes, turbos, tires for trucks and private vehicles, filters, engine pieces, alternators, starters, bearings, sensors, seal gaskets, ball-bearings, clutches, radiators, steel and iron, aluminum and chemicals, rubber, plastics, and paints, spare parts for agricultural machinery, among others).

2. Legal persons of the sector of chemicals, petrochemicals, and plastic resins.

3. Legal persons of the sector of medical, odontological, and optical apparatuses and instruments.

4. Legal persons of the sector of machinery and industrial spare parts.

5. Legal persons of the sector of basic consumable supplies for manufacture of glass and ceramic products (non-metallic minerals)

 

The goods (Customs Code - MERCOSUR Common Nomenclature / Nomenclatura Común de MERCOSUR - NCM) participating in the auction must correspond to each sector, as detailed in Attachment 1 to the Call.

 

Description of the auction:

Total amount of the auction: USD. 440,000,000.00

Minimum amount per purchase order: USD 5,000.00.

Maximum amount per purchase order: 0.5% of the total amount of the auction.

Multiple per purchase order: USD. 1,000.00.

 

The Call imposes on the legal persons favored by the Auction the obligation to execute a Faithful Performance Contract for Exchange Transactions and the relevant Faithful Performance Bond.

 

The receipt of purchase orders begins on Tuesday, February 11 at 9:00 a.m. and ends on Thursday, February 13, at 9:00 a.m. On Friday, February 14, the CENCOEX will inform the amount auctioned and the total amount awarded. The process will be completed on Monday, February 17, date on which the amounts awarded will be paid.

 

In order to access the call for Auction No. 01-2014, please click here:

 

http://www.cadivi.gob.ve/images/stories/pdfs/Sicad/Convocatoria/convocatoria_sicad.pdf


“NOTE: THIS INFORMATION SHOULD NOT BE CONSTRUED AS LEGAL ADVICE ON ANY SPECIFIC MATTER AND ITS CONTENT ARE INTENDED AS A MANAGEMENT ALERT AS TO CURRENT DEVELOPMENTS IN VENEZUELA, ANY SPECIFIC LEGAL QUESTIONS REGARDING THE POSSIBLE APPLICATION OF NEW OR PROPOSED LEGISLATION TO PARTICULAR SITUATIONS SHOULD BE ADDRESSED TO TRAVIESO EVANS ARRIA RENGEL & PAZ.”