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20.12.2013

Instruction on external commitments, DCA of the NBM no.185 of July 13, 2006

Note: The translation is unofficial, for information purpose only

Published in the Official Monitor of the Republic of Moldova no.116-119 of 28.07.2006, Art.427

APPROVED
by the Decision of the Council of Administration
of the National Bank of Moldova
no. 185 as of July 13, 2006

Instruction on external commitments

Amendeded and complited by:

DCA of the NBM no.183 of 19.07.2007, Official Monitor of the Republic of Moldova no.131-135 of 24.08.2007, Art.519;
DCA of the NBM no.178 of 18.09.2008, Official Monitor of the Republic of Moldova no.187-188 of 17.10.2008, art.558;
DCA of the NBM no.201 of 17.10.2013, Official Monitor of the Republic of Moldova no.297-303 of 20.12.2013, art.1875.

(Preamble excluded by the Decision of the NBM no.201 of 17.10.2013)

Chapter I. General provisions

Section 1. Used notions

This Instruction shall use notions defined in the Law no.62-XVI of March 21, 2008 on foreign exchange regulation (Official Monitor of the Republic of Moldova, 2008, no.127-130, Art.496), hereinafter – the Law no.62-XVI of 21.03.2008. Also, for the purpose of this Instruction the following notions shall be used:
(Paragraph in the wording of the Decision of the NBM no.201 of 17.10.2013)

1.1. External commitments – the totality of direct and conditional obligations, arising from the loans /credits and guarantees granted by non-residents in favour of residents and by residents in favour of non-residents, named hereinafter – „external loans /credits” şi „external guarantees”, that include:
a) loans /credits within the direct investments specified in item c) paragraph (3) Article 7 of the Law no.62-XVI of 21.03.2008;
b) commercial loans /credits specified in Article 10 of the Law no.62-XVI of 21.03.2008;
c) financial loans /credits specified in Article 11 of the Law no.62-XVI of 21.03.2008;
d) loans /credits with a personal character specified in item a) paragraph (1) Article 15 of the Law no.62-XVI of 21.03.2008;
e) guarantees specified in Article 12 of the Law no.62-XVI of 21.03.2008.
(Item 1.1 in the wording of the Decision of the NBM no.201 of 17.10.2013)

(Item 1.2 excluded by the Decision of the NBM no.201 of 17.10.2013)

(Item 1.3 excluded by the Decision of the NBM no.201 of 17.10.2013)
(Item 1.3 modified by the Decision of the NBM no.183 of 19.07.2007)

(Items 1.4 – 1.8 excluded by the Decision of the NBM no.201 of 17.10.2013)

(Item 1.9 excluded by the Decision of the NBM no.201 of 17.10.2013)
(Item 1.9 in the wording of the Decision of the NBM no.178 of 18.09.2008)

1.10. Resident individuals – residents specified in item a) sub-paragraph 9) Article 3 of the Law no.62-XVI of 21.03.2008.
(Item 1.10 in the wording of the Decision of the NBM no.201 of 17.10.2013)

1.11. Resident individuals practicing a certain type of activity - residents specified in item b) sub-paragraph 9) Article 3 of the Law no.62-XVI of 21.03.2008.
(Item 1.11 in the wording of the Decision of the NBM no.201 of 17.10.2013)

1.12. Resident legal entities – residents specified in items c)-g) sub-paragraph 9) Article 3 of the Law no.62-XVI of 21.03.2008.
(Item 1.12 in the wording of the Decision of the NBM no.201 of 17.10.2013)

The notions „account” and „resident payment service providers (RPS providers)” have the same meanings as defined by the Regulations on conditions and procedures for performing foreign exchange operations, approved by the Decision of the Council of Administration of the National Bank of Moldova no.8 as of January 28, 2010, the Official Monitor of the Republic of Moldova, 2010, no.41-43, Art.177, (hereinafter – the Regulations on conditions and procedures for performing foreign exchange operations).
(Paragraph introduced by the Decision of the NBM no.201 of 17.10.2013)

Section 2. General provisions

2.1. This Instruction shall, as follows:
a) establish the requirements for the notification and application for issuing the authorization, as well as the list of the documents attached thereto;
b) regulate the conditions and procedure of notification the National Bank of Moldova on external commitments by residents;
c) regulate the conditions and procedure of issuance by the National Bank of Moldova of authorizations on external commitments;
d) establish the procedure of making the payments /transfers related to the notified /authorized external commitments;
e) regulate the procedure of reporting to the National Bank of Moldova of operations performed according to the notified /authorized external commitments;
f) establish the obligations of residents, including of RPS providers through which the receipts /payments /transfers related to external commitments are made;
g) regulate other peculiarities related to external commitments.
(Item 2.1 modified by the Decision of the NBM no.201 of 17.10.2013)

(Item 2.2 excluded by the Decision of the NBM no.201 of 17.10.2013)

2.3. Residents, performing operations related to external commitments subject to notification under the Law no.62-XVI of 21.03.2008, shall notify the National Bank of Moldova on such operations.
Residents, performing operations related to external commitments subject to authorization under the Law no.62-XVI of 21.03.2008, shall obtain the authorization of the National Bank of Moldova.
(Item 2.3 modified by the Decision of the NBM no.201 of 17.10.2013)

2.4. The notification regime shall not be applied to external commitments, if such commitments fall under the Law no.419-XVI of December 22, 2006 on public debt, state guarantees and state on-lending.
The authorization regime shall not be applied to external commitments in which the Ministry of Finance or the National Bank of Moldova takes part, as well as to external commitments performed on the account of the national public budget funds.
(Item 2.4 modified by the Decision of the NBM no.201 of 17.10.2013)

2.5. Subject to notification to the National Bank of Moldova shall be the external commitments arising from receiving by residents from non-residents of, as follows:
a) interest-bearing commercial loans /credits, except for the receiving within the factoring operation of the loan /credit by the adhering entity (resident supplier) from the non-resident factor, in the event that the non-resident factor assumes the risk of insolvency of the non-resident debtor for the undertaken debt;
b) financial loans /credits, except for the following:
(i) interbank credits with the initial repayment period less than one year;
(ii) loans /credits received from non-residents by using credit cards issued by non-residents upon residents’ request;
c) external guarantees issued by the non-resident guarantor based on the underlying transaction between two residents.
(Item 2.5 modified by the Decision of the NBM no.201 of 17.10.2013)

2.6. Subject to authorisation by the National Bank of Moldova shall be the external commitments arising from the granting by residents in favour of non-residents of, as follows:
a) financial loans /credits, except for the following:
(i) interbank credits with the initial repayment period not exceeding one year;
(ii) financial leasing;
a1) loans with a personal character (from resident individual in favour of non-resident individual) in an amount exceeding 1000 Euro (or their equivalent);
b) guarantees provided by the resident guarantor (other than the licensed bank) to non-resident, as follows:
(i) based on the underlying transaction between non-residents;
(ii) in the form of a guarantee deposit.
(Item 2.6 modified by the Decision of the NBM no.201 of 17.10.2013)

2.61. As a residents performing foreign exchange operations related to external commitments referred to in items 2.5 and 2.6 shall also be considered residents that become a party within the foreign exchange operations related to external commitments as a result of modification or completion of contractual clauses, assignment of claims, debt assumption, other grounds for modification of legal relations (for instance, novation).
(Item 2.61 introduced by the Decision of the NBM no.201 of 17.10.2013)

2.7. In the event of notification on external commitments arising from financial leasing operations and from commercial loans /credits, according to which advance payments by the resident debtor are provided for, the amounts of external commitments, excluding the amounts of advances, shall be indicated in notifications.
(Item 2.7 modified by the Decision of the NBM no.201 of 17.10.2013)

2.8. Recording /authorization of external commitments shall not imply for the National Bank of Moldova any obligations related to such external commitments.
The resident who is a party within the external commitment shall be responsible for the compliance of the external commitment with the provisions of legislation of the Republic of Moldova.
The resident who is a party within the external commitment shall be responsible for signing the documents (that are submitted to the National Bank of Moldova) by the person authorized with this right according to the incorporation documents of the resident and the legislation of the Republic of Moldova.

2.9. The National Bank of Moldova shall keep records of notifications and authorizations on external commitments in a special register.

 

Chapter II. Notification and authorization of external commitments

Section 3. Notification of external commitments by residents

3.1. Notification of the National Bank of Moldova on external commitments shall be made by residents by submitting the respective notifications, to which the documents listed in items 3.5 – 3.8 of this Instruction are attached.

3.2. The resident who is a participant within the transaction related to external commitment shall bear the responsibility for the submission of notification, taking into consideration the following peculiarities:
a) in the event when the contract related to granting the external loan /credit by the non-resident specifies two or more resident debtors, the person responsible for notification may be the resident debtor, designated as loan’s /credit’s administrator, or each debtor, depending on contractual clauses;
b) in the event of notification of external guarantee, the person responsible for notification shall be the resident guarantee principal (the debtor on underlying transaction);
c) in the event of notification of the commercial loan /credit in the form of factoring, the person responsible for notification shall be the resident adherent;
d) in the event of notification of the financial loan /credit in the form of factoring, within which the adherent (resident supplier) receives a loan /credit from the non-resident factor, the person responsible for notification shall be the resident debtor.
(Item 3.2 modified by the Decision of the NBM no.201 of 17.10.2013)

3.3. The notification on the external loan /credit, compiled according to the form as in Attachment no.2 to this Instruction, shall be submitted to the National Bank of Moldova by a resident in two original copies. The respective notification shall be submitted, as follows:
a) in the event when, according to the external loan /credit contract, the resident receives goods (including the lease object) /services – until making by resident of the first payment /transfer in order to pay debts to non-resident under the external loan/ credit contract;
b) in the event of financial loan /credit in the form of factoring, within which the adherent (resident supplier) receives a loan /credit from the non-resident factor – until making the first payment /transfer in favour of non-resident factor;
b1) in the event when the resident receives the loan /credit by transferring directly by non-resident creditor of respective amounts in favour of persons to whom the resident shall pay from the account of the given loan/credit – until making by resident of the first payment /transfer in order to pay debts to non-resident under the external loan/ credit contract;
b2) in the event when the resident become a debtor within the loan /credit subject to notification as a result of modification or completion of contractual clauses, assignment of claims, debt assumption or other grounds for modification of legal relations (for instance, novation) – until making by resident of the first payment /transfer in order to pay debts to non-resident under the external loan/ credit contract;
c) in cases other than those specified in sub-items a) – b2) of this item – until making by resident of the first payment/transfer with the use of funds received according to the external loan /credit contract.
The notification on the external guarantee, compiled according to the form as in Attachment no.4 to this Instruction, shall be submitted to the National Bank of Moldova by a resident in two original copies. The respective notification shall be submitted after guarantee’s issuance, but at latest 15 working days before to the date of making by guarantee’s principal of the first payment /transfer for the repayment of funds paid by the guarantor based on the external guarantee.
(Item 3.3 modified by the Decision of the NBM no.201 of 17.10.2013)

3.4. In the event when, for the performance of transactions related to external commitments subject to notification to the National Bank of Moldova, the resident intends to open abroad an account, which, under the Law no.62-XVI of 21.03.2008, is subject to authorization, the resident shall submit the respective notification to the National Bank of Moldova (observing the provisions of item 3.3 of this Instruction) only after obtaining the authorization for opening the account abroad.
(Item 3.4 modified by the Decision of the NBM no.201 of 17.10.2013)

3.5. The licensed bank shall attach to a notification the documents indicated in Attachment no.1 to this Instruction, as follows:
a) for received external loans /credits – the documents indicated in items 7 and 12;
b) for received external guarantees – the documents indicated in items 8-12.

3.6. The resident legal entity shall attach to a notification the documents indicated in Attachment no.1 to this Instruction, as follows:
a) for received external loans /credits – the documents indicated in items 3-7 and 12;
b) for received external guarantees – the documents indicated in items 3-6 and 8-12.

3.7. The resident individual practicing a certain type of activity shall attach to a notification the documents indicated in Attachment no.1 to this Instruction, as follows:
a) for received external loans /credits – the documents indicated in items 1, 2, 7 and 12;
b) for received external guarantees – the documents indicated in items 1, 2 and 8-12.
(Item 3.7 modified by the Decision of the NBM no.201 of 17.10.2013)

3.8. The resident individual shall attach to a notification the documents indicated in Attachment no.1 to this Instruction, as follows:
a) for received external loans /credits – the documents indicated in items 1, 7 and 12;
b) for received external guarantees – the documents indicated in items 1 and 8-12.

Section 4. Recording of external commitments subject to notification

4.1. The National Bank of Moldova shall record or shall refuse the recording of external commitment within the period of 15 working days from the date of receiving the notification.

4.2. The National Bank of Moldova shall not record the external commitment in the event when, as follows:
a) failure to submit the full set of documents under the provisions of this Instruction;
b) documents submitted by the resident for examination do not meet the requirements of this Instruction;
c) the notification was compiled incompletely and /or erroneously, including the data indicated in the notification do not correspond with the respective data from the submitted documents;
d) for the fulfilment of the external commitment the resident intends to open abroad an account, which is subject to authorization by the National Bank of Moldova, and the resident failed to obtain the respective authorization;
e) the documents related to the external commitment, which is subject to notification, contain clauses that contravene the provisions of the Law no.62-XVI of 21.03.2008;
f) the submitted documents contain unauthentic or contradictory data.
(Item 4.2 completed by the Decision of the NBM no.201 of 17.10.2013)

4.3. In the event when the external commitment was not recorded, the National Bank of Moldova shall inform the applicant in written form, indicating the respective reason.

4.4. After the removal by resident of circumstances that served as grounds for refusal, the resident may repeatedly address to the National Bank of Moldova in order to record the external commitment.

4.5. The recording of external commitment shall be made by assigning the respective number to such commitment and indicating the number and the date of recording in the notification.

4.6. After the recording the external commitment, a copy of the notification shall be returned to the resident, while the second copy shall remain at the National Bank of Moldova together with the photocopies of documents submitted by the resident.
Simultaneously, the National Bank shall issue to the resident the attachment to the notification according to the form as in Attachment no.3 or, where appropriate, no.5 to this Instruction. The issued attachment shall be the integral part of the notification.
Depending on the peculiarity of external commitment, the National Bank of Moldova can modify the content of the attachment to the notification and /or issue several attachments to the notification.
(Item 4.6 completed by the Decision of the NBM no.201 of 17.10.2013)

4.7. In the event when, after the date of recording the external commitment, modifications /completions have occurred in the documents submitted by the resident and /or new documents that modify the provisions of external commitment have been signed, the resident shall be obliged, within the period of 15 working days from the date of modification /completion, to the following:
a) to submit a modified notification (according to the form as in Attachment no.2 or, where appropriate, no.4 to this Instruction) in two original copies, attaching the original of the previous notification, the attachment to such notification and the respective documents – in case of amendments and/or completions which involve the modification of data from the notification;
b) to inform in written form the National Bank of Moldova on the made modifications /completions, attaching the relevant documents – in other cases.

4.8. In case of submission of the modified notification, the provisions of items 4.1 – 4.4 and 4.9 of this Instruction shall be applied.

4.9. The National Bank of Moldova shall keep in the modified notification the registration number of external commitment and the date of recording such commitment. Additionally, the modified notification shall include the ordinal number of the modified notification and its date.
The responsible person of the National Bank of Moldova shall indicate the ordinal number of the modified notification and its date in the attachment to the notification.
Simultaneously, the National Bank of Moldova shall cancel the previous notification (except for the attachment thereto) by applying the stamp “CANCELLED” on such notification and shall return to the resident the copy of the cancelled notification, the copy of the modified notification and the respective attachment.

Section 5. Submission of applications for authorization of external commitments

5.1. For the purpose of authorization by the National Bank of Moldova of the external loan /credit, the resident shall submit an application for authorization of external loan /credit (according to the form as in Attachment no.6 to this Instruction), to which the documents listed in items 5.5 – 5.8 of this Instruction shall be attached.
For the purpose of authorization by the National Bank of Moldova of issuance of external guarantee, the resident shall submit an application for authorization of issuance of external guarantee (according to the form as in Attachment no.7 to this Instruction), to which the documents listed in items 5.6 – 5.8 of this Instruction shall be attached.

5.2. The resident who is a participant within the transaction related to external commitment shall bear the responsibility for obtaining the authorization

5.3. The authorization shall be obtained by resident before the performance of the respective foreign exchange operation.
(Item 5.3 in wording of the Decision of the NBM no.201 of 17.10.2013)

5.4. In the event when, for the performance of transactions related to external commitments, which are subject to authorization by the National Bank of Moldova, the resident intends to open abroad an account, which, under the Law no.62-XVI of 21.03.2008, is subject to authorization, the resident shall submit an application for authorization of external commitment (observing the provisions of item 5.3 of this Instruction) simultaneously with the application for issuing the authorization for opening the account abroad.
(Item 5.4 modified by the Decision of the NBM no.201 of 17.10.2013)

5.5. In order to grant external loan /credit, the licensed bank shall attach to application the documents indicated in items 7 and 12 from Attachment no.1 to this Instruction.

5.6. The resident legal entity shall attach to application the documents indicated in Attachment no.1 to this Instruction, as follows:
a) for granting the external loan /credit – the documents indicated in items 3-7 and 12;
b) for issuing the external guarantee – the documents indicated in items 3-6 and 8-12.

5.7. The resident individual practicing a certain type of activity shall attach to application the documents indicated in Attachment no.1 to this Instruction, as follows:
a) for granting the external loan /credit – the documents indicated in items 1, 2, 7 and 12;
b) for issuing the external guarantee – the documents indicated in items 1, 2 and 8-12.
(Item 5.7 modified by the Decision of the NBM no.201 of 17.10.2013)

5.8. The resident individual shall attach to application the documents indicated in Attachment no.1 to this Instruction, as follows:
a) for granting the external loan /credit – the documents indicated in items 1, 7 and 12;
b) for issuing the external guarantee – the documents indicated in items 1 and 8-12.

Section 6. Examination of applications for authorization of external commitments

6.1. The National Bank of Moldova shall decide on the issuance of authorisation or on the refusal to issue the authorisation within the period of 15 working days from the date of receiving the application for authorisation of external commitment.

6.2. The National Bank of Moldova shall decide on the issuance of authorisation or on the refusal to issue the authorisation, taking into account the fundamental objective of the National Bank of Moldova, stipulated in the Law on the National Bank of Moldova, the current conditions of the money, credit and foreign exchange market, the situation of the balance of payments of the Republic of Moldova, the provisions of the acting legislation.

6.3. Simultaneously, the reasons for the refusal to issue the authorisation shall be, as follows:
a) failure to submit the full set of documents under the provisions of this Instruction;
b) documents submitted by the resident for examination do not meet the requirements of this Instruction;
c) application by the National Bank of Moldova to the applicant-RPS provider of remedial measures related to granting the loans /credits /guarantees;
d) the submitted documents contain incomplete or contradictory data.
e) failure of the applicant to meet the conditions of authorization, including the refusal of the National Bank of Moldova to issue authorization for opening account abroad – in the event when for the fulfilment of the external commitment resident intends to open abroad an account, which is subject to authorization by the National Bank of Moldova.
(Item 6.3 modified by the Decision of the NBM no.201 of 17.10.2013)

6.4. In case of refusal to authorize the external commitment, the National Bank of Moldova shall inform the applicant in written form, indicating the respective reason.

6.5. The National Bank of Moldova shall examine the repeated application for authorisation of external commitment, taking into consideration the reasons for refusal, as well as verifying their removal by the resident (if that depends on the resident).

6.6. The authorisation of the external commitment shall be made through the issuance by the National Bank of Moldova of authorization and the attachment that is an integral part of the authorization.
The authorization for granting external loan /credit and attachment to such authorisation shall be issued as in accordance with forms, which samples are indicated in Attachment no.9 and no.10 to this Instruction.
The authorization for issuing the external guarantee and attachment to such authorisation shall be issued as in accordance with forms, which samples are indicated in Attachment no.12 and no.13 to this Instruction.
Depending on the peculiarity of external commitment, the National Bank of Moldova can modify the content of authorization, the attachment to such authorization and /or issue several attachments to authorization.
(Item 6.6 completed by the Decision of the NBM no.201 of 17.10.2013)

6.7. In the event when, after the date of obtaining the authorization, modifications /completions have occurred in the documents submitted by the resident and /or new documents that modify the provisions of external commitment have been signed, the resident shall be obliged, within the period of 15 working days from the date of modification /completion, to the following:
a) to submit an application for issuing an amendment to authorization (according to the form as in Attachment no.8 to this Instruction), attaching the original of authorization, the attachment to such authorisation and the respective documents – in case of modifications and /or completions which involve the modification of data from the authorization;
b) to inform in written form the National Bank of Moldova on the made modifications /completions, attaching the relevant documents – in other cases.

6.8. In the event of submission of application for issuing an amendment to authorization, the provisions of items 6.1 – 6.5 and 6.9 of this Instruction shall be applied.

6.9. As a result of acceptance of the amendments and/or completions, the National Bank of Moldova shall issue an amendment to authorization, according to the form as in Attachment no.11 or, where appropriate, no.14 to this Instruction. The responsible person of the National Bank of Moldova shall indicate the ordinal number and the date of amendment’s issuance on the reverse side of authorization and in the attachment to this authorization.
The amendment shall be an integral part of the authorization issued by the National Bank of Moldova.

 

Chapter III. Payments /transfers related to notified /authorized external commitments
(Name of Chapter III completed by the Decision of the NBM no.201 of 17.10.2013)

Section 7. General provisions

7.1. This chapter shall regulate the particularities related to making by residents in favor of non-residents of payments and transfers within the notified /authorized external commitments, in particular the requirements for the notifications /authorizations that shall be submitted to the RPS providers and the respective actions of the RPS providers.

7.2. The payments/transfers regulated by this chapter shall be made in accordance with the respective provisions related to the payments and transfers from the Regulations on conditions and procedures for performing foreign exchange operations, as well as in accordance with the provisions of this chapter.

7.3. In the event when the payments /transfers related to external commitments are performed with the use of payment instruments (defined so under the Law no.114 as of May 18, 2012) and, depending on the particularity of the used payment instrument or depending on the method of its using, at the time of performing the foreign exchange operation it is not possible to submit notification /authorization and justifying documents to the RPS provider, the given RPS provider shall apply its internal regulations.

7.4. In the case referred to in item 7.3 the RPS provider shall have the evidences that the resident performing the respective foreign exchange operation holds the relevant notification /authorization and that the payment /transfer is performed in accordance with requirements of the given notification /authorization. The respective entries in attachment to the notification /authorization shall be made within the time limits agreed between the RPS provider and the respective resident.

7.5. Internal regulations referred to in item 7.3 shall establish actions /terms /procedures /modalities of verification that have to be implemented /executed by the RPS providers and /or by their clients in order to ensure compliance with the provisions of the foreign exchange legislation, including the requirements of authorizations.
(Section 7 in wording of the Decision of the NBM no.201 of 17.10.2013)

Section 8. Requirements for the notifications /authorizations that are submitted to the RPS providers and the respective actions of the RPS providers
(Name of Section 8 in wording of the Decision of the NBM no.201 of 17.10.2013)

(Item 8.1 excluded by the Decision of the NBM no.201 of 17.10.2013)

8.2. If the external commitment is subject to notification, while making the payment /transfer related to external commitment by the resident (responsible for notification) in favour of non-resident, the resident shall submit the original of the notification recorded by the National Bank of Moldova and the attachment to the notification.
If the external commitment is subject to authorisation, while making the payment /transfer related to external commitment by the resident in favour of non-resident, the resident shall submit the originals of the authorisation issued by the National Bank of Moldova and of the attachment to authorisation. In the event when the National Bank of Moldova issued amendments to authorisation, these amendments shall be submitted in original along with the authorisation.
(Item 8.2 modified by the Decision of the NBM no.201 of 17.10.2013)

8.3. The notification /authorisation shall be submitted to the RPS provider at the time of making the payment/ transfer within the respective external commitment, except for the case provided for in item 7.3.
(Item 8.3 in wording of the Decision of the NBM no.201 of 17.10.2013)

8.4. The RPS providers, through which residents make in favor of non-residents payments /transfers within the notified /authorized external commitments, shall be obliged to verify at least the following:
a) the existence of the number and the date of the notification /authorization in the respective written request;
b) the correspondence of data indicated in the notification /authorization (taking into account the amendments thereto, if any) with the data indicated in the justifying documents related to the notified /authorized external commitment (taking into account the amending documents, if any);
c) the correspondence of data indicated in the respective written request with the data indicated in the notification /authorization (taking into account the amendments thereto, if any) and in the justifying documents related to the notified /authorized external commitments (taking into account the amending documents, if any);
d) if, while repaying the principal of the external loan /credit, the amount of all reimbursements related to the principal does not exceed the amount of all tranches or, in case of granting the loan /credit, if the amount of all tranches does not exceed the amount indicated in authorisation (taking into account the amendments thereto, if any) and in the justifying documents related to the authorized external commitments (taking into account the amending documents, if any);
e) if the justifying documents are submitted in accordance with the provisions of the Regulation on conditions and procedures for performing foreign exchange operations.
(Item 8.4 in wording of the Decision of the NBM no.201 of 17.10.2013)

8.5. The data from the justifying documents shall correspond with the data from the notification /authorisation. In the event when such data fail to correspond, the resident shall submit to the RPS provider the modified notification /amendment to authorization that shall contain the respective modifications /completions.
(Item 8.5 modified by the Decision of the NBM no.201 of 17.10.2013)

8.6. Unless otherwise is provided for by this Instruction, at the time of making each payment /transfer by resident in favour of non-resident based on the notified /authorised external commitment, each time the RPS provider shall indicate the information on the made payment /transfer in the attachment to the notification /authorisation. The respective entry shall be authenticated by the signature of the responsible person of the RPS provider and by the stamp of the RPS provider.
(Item 8.6 modified by the Decision of the NBM no.201 of 17.10.2013)

8.7. The original of the notification /authorisation and of the respective attachment shall be returned to the resident, while the photocopies of these documents (with the respective entries) authenticated by the responsible person of the RPS provider shall remain at RPS provider when making each payment /transfer and shall be kept according to the internal rules established by the RPS provider in compliance with the legislation of the Republic of Moldova.
(Item 8.7 modified by the Decision of the NBM no.201 of 17.10.2013)

Section 9. Peculiarities of making by RPS providers of payments /transfers related to the notified /authorized external commitments
(Name of Section 9 in wording of the Decision of the NBM no.201 of 17.10.2013)

(Item 9.1 excluded by the Decision of the NBM no.201 of 17.10.2013)

9.2. If the external commitment is subject to notification /authorization, the RPS provider shall hold the respective notification /authorization at the time of making the respective payments /transfers.
In the event when the modifying documents lead to the modification of data from the notification /authorization, the RPS provider shall also be obliged to hold the modified notification /amendment to authorization.
(Item 9.2 modified by the Decision of the NBM no.201 of 17.10.2013)

9.3. While making by the RPS provider in its own name and on its own account of payment /transfer related to the notified /authorized external commitment, the provisions of sub-items b)-d) item 8.4, items 8.5 and 8.6 of this Instruction shall be applied accordingly.
(Item 9.3 modified by the Decision of the NBM no.201 of 17.10.2013)

9.4. In case of performing by the RPS provider of own notified /authorized foreign exchange operation through the account opened with another RPS provider, the notification /authorization shall be submitted to the RPS provider with which the account is opened. In such case the provisions of items 8.2-8.7 shall be applied respectively.
(Item 9.4 introduced by the Decision of the NBM no.201 of 17.10.2013)

9.5. The originals of notifications /authorizations, including of the amendments thereto (if any), shall be kept at the RPS provider according to the internal regulations established by this RPS provider under the legislation of the Republic of Moldova.
(Item 9.5 introduced by the Decision of the NBM no.201 of 17.10.2013)

Chapter IV. Miscellaneous provision

Section 10. Filling in of attachment to the notification /authorization

10.1. In the event when the receipts /payment /transfer under the external commitment, which is subject to notification /authorization, are made through the account opened with the RPS provider, the resident shall submit to the RPS provider the notification /authorization and the respective attachment within the time limits agreed between the RPS provider and the resident, unless otherwise is provided for by this instruction. The RPS provider shall perform and authenticate in the attachment the entries on the receipts /payments /transfers within external commitment.
In other cases residents shall be obliged, based on the respective documents, to indicate and authenticate independently in the attachment to the notification /authorization the information related to each transaction.
(Item 10.1 modified by the Decision of the NBM no.201 of 17.10.2013)

10.2. In the event when the attachment to the notification was obtained after the funds under the external commitment were received, the resident shall be obliged to ensure, including through addressing to the RPS providers, the entry of information on the received funds in the attachment to the notification according the provisions of item 10.1 of this Instruction.
(Item 10.2 modified by the Decision of the NBM no.201 of 17.10.2013)

10.3. In the event when the space of the attachment to the notification /authorization is not sufficient for the entries, the National Bank of Moldova shall issue an additional attachment’s page, which shall be authenticated by the signature of the responsible person and the stamp of the National Bank of Moldova.

Section 11. Reporting of external commitments

11.1. Residents, whose external commitments were recorded /authorised by the National Bank of Moldova under the provisions of this Instruction, shall be obliged to report to the National Bank of Moldova the information on external commitments.

11.2. The reporting shall be made by the submission to the National Bank of Moldova of the photocopy of attachment to the notification /authorization.
While reporting the authorised external commitments, the residents shall also submit the photocopies of documents (that shall remain at the National Bank of Moldova) on the basis of which the entries on the operations, other than those performed through RPS provider, were made in the attachment to authorisation.
The correspondence of the submitted photocopies of the documents and of the attachment with their originals shall be authenticated by the resident. For the authentication, the following wording shall be written on the photocopy of the document and of the attachment "I declare on my own responsibility that the photocopy is identical with the original.". In case of a RPS provider /resident legal entity, the respective wording shall be authenticated by the signature of the administrator /his authorized person. In case of individual practicing a certain type of activity and of an individual, the respective wording shall be authenticated by the signature of the respective individual. In the event when, under the acting legislation, the resident holds a stamp, the mentioned signature shall be certified by applying the stamp.
(Item 11.2 modified by the Decision of the NBM no.201 of 17.10.2013)

11.3. In the event when the operations according to the external commitment are performed monthly, the reporting shall be made monthly, no later than the 10th day of the month following the reporting month.
In the event when the operations according to the external commitment are performed with a frequency more than one month or with an irregular frequency, the reporting shall be made no later than the 10th day of the month following the month when operations according to the external commitment were performed.

Section 12. Special provisions

12.1. The resident’s order related to making the payments /transfers with the use of funds received from non-resident according to the external commitment, which is subject to notification, shall be executed by the RPS provider in the event when it has evidence, obtained from the respective resident, that the resident holds the notification recorded by the National Bank of Moldova.
(Item 12.1 in wording of the Decision of the NBM no.201 of 17.10.2013)

(Items 12.2 – 12.4 excluded by the Decision of the NBM no.201 of 17.10.2013)

Chapter V. Transitional and final provisions

Section 13. Transitional provisions

13.1. The residents holding registration certificates /authorizations for external commitments, issued by the National Bank of Moldova (in accordance with the Instruction on the procedure of registration and authorization by the National Bank of Moldova of private external commitments, approved by the Decision of the Council of Administration of the National Bank of Moldova no.126 of 06.06.2002, with further modifications and completions), according to which, upon the entry into force of this Instruction, payments have not been finalised yet, shall further use such certificates /authorizations (with amendments, if any) and attachments thereto.

13.2. In the event when the documents, indicated in Attachment no.1 to this Instruction (submitted by the residents mentioned in item 13.1 of this Instruction in order to receive the respective registration certificates /authorizations) have been modified /completed, and /or new documents that modify the provisions of the external commitment have been signed, the provisions of items 4.1-4.4, sub-item b) item 4.7 and items 6.7 – 6.9 of this Instruction shall be applied, where appropriate, taking into account the following peculiarities.
In the event when the mentioned modifications and /or completions involve the modification of data to be included in the notification, the resident shall submit a notification (as in accordance with the form from Attachment no. 2, or, where appropriate, no.4 to this Instruction), attaching the original copy of the registration certificate (with amendments, if any, and attachment) and the relevant documents.

13.3. In the notification the National Bank of Moldova shall keep the registration number and the date of the registration certificate. Simultaneously, the National Bank of Moldova shall cancel the registration certificate (except for the attachment thereto) and the amendments (if any) by applying on them the stamp “CANCELLED”.
No new attachment shall be issued. The attachment issued upon issuance of the registration certificate shall be used, where the responsible person of the National Bank of Moldova shall indicate the ordinal number and the date of the notification.
The National Bank of Moldova shall return to the resident the cancelled copies of the registration certificate and of the amendments (if any), as well as the copy of the notification (with attachment).

13.4. Upon the entry into force of this Instruction, the residents mentioned in item 13.1 of this Instruction shall, as follows:
a) fill in the attachments to the registration certificate /authorization as in accordance with requirements stipulated in this Instruction;
b) report to the National Bank of Moldova submitting the attachments to the registration certificates /authorizations as in accordance with time limits and conditions stipulated in this Instruction.

Section 14. Final provisions

14.1. This Instruction shall be published in the Official Monitor of the Republic of Moldova and shall take effect as of September 1, 2006.