SML - Local Currency Payment System

 

Brazil - Argentina


Operational Procedures


To the exporter - To the importer

 

Operational procedures to the exporter

Choose a Brazilian financial institution authorized to operate in SML.
Take with the Argentinean importer, exports in real (BRL).

Inform the Argentinean importer, data from its bank account in the Brazilian financial institution authorized to claim the payment:

The credit regarding the payment made to the financial institution will occur on the second business day (D +2) after the registration of the operation by the Argentine importer, considering business day, both in Brazil and Argentina. The amount credited will be equal to the amount registered by the importer in the Argentinean financial institution.

 

Operational procedures to the importer

Choose a Brazilian financial institution authorized to operate in SML.
Contract, with argentine exporter, the import in argentine peso (ARS).

Ask the Argentine exporter his bank account data - in a argentine financial institution authorized in SML -   for payment credit:

  • Argentine financial institute code (ENT)

  • Clave bancaria uniforme (CBU)

  • Código único de identificación tributaria (CUIT) ou código único de identificación laboral (CUIL)

  • Legal denomination or name

In the payment day, go to the financial institution , choosen to register the operation in SML. The operation will be contracted in argentine peso.

The importer will pay the financial institution in real. The real/argentine peso exchange rate will be arranged between the importer and the financial institution.

The Central Bank of Brazil will charge the financial institution for the operation in argentine peso converted value. The exchange rate used in this real/argentine peso convertion will be the SML tax, published  by the Central Bank of Brazil in the end of the day.  

The payment credit will be due to the financial institution of argentine exporter  in the second business day (D+2) after the operation registration, considering simultaneously business days both in Brazil and Argentina. The credited value will be the same as the one contracted by the brazilian importer in argentine pesos.