Decision on Foreign Exchange Management for Import and Export of Goods and Services
关于进出口商品与服务外汇管理的决定
ຂໍ້ຕົກລົງ ວ່າດ້ວຍການຄຸ້ມຄອງເງິນຕາຕ່າງປະເທດ ກ່ຽວກັບການນຳເຂົ້າ-ສົ່ງອອກ ສິນຄ້າ ແລະ ການບໍລິການ
Summary
The decision issued by the Bank of Laos stipulates principles of foreign exchange management for import and export of goods and services, registration and account opening, payment and receipt of foreign exchange, prohibited acts, responsibilities of management bodies, and penalty measures for violators, to ensure that payments and receipts are conducted through the banking system, and strengthen external solvency and foreign exchange reserves.
Articles
Article 1
Purpose. This Decision prescribes principles, regulations, and measures for the management of foreign exchange related to the import and export of goods and services, to promote the settlement of payments and receipts for goods and services through the banking system, aiming to strengthen the external payment position and foreign exchange reserves, and to contribute to maintaining the stability of the national currency.
Article 2
Foreign Exchange Management for Import and Export of Goods and Services. Foreign exchange management for the import and export of goods and services refers to the implementation of principles, regulations, and measures by importers and exporters for making and receiving payments for goods and services abroad through the banking system, in accordance with this Decision and related regulations.
Article 3
Definition of Terms. The terms used in this Decision shall have the following meanings: 1. Importers and Exporters refer to enterprises engaged in business related to the import and export of goods and services and holding a registration certificate for the import and export of goods and services issued by the competent industrial and commercial authority; 2. Goods refer to products with economic value imported and/or exported for the purposes of production, processing, consumption, and sale, and are specified in accordance with the commodity list and the unified customs tariff regulations; 3. Services refer to tourism, education, public health, insurance, transportation, telecommunications, labor, and other services; 4. Commercial Banks refer to state-owned commercial banks, state-owned joint venture commercial banks, private banks, commercial banks that are subsidiaries of foreign banks, and branches of foreign commercial banks, which are established in accordance with the law and authorized to conduct business; 5. Electronic Funds Transfer refers to the transfer of funds between deposit accounts at commercial banks using electronic systems, such as Wire Transfer, RTGS System (Real-Time Gross Settlement System), and SWIFT System; 6. Letter of Credit (L/C) refers to a payment guarantee issued by a commercial bank to an importer for ordering goods from abroad.
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