UNIFIED SYSTEM FOR REGIONAL COMPENSATION

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1 UNIFIED SYSTEM FOR REGIONAL COMPENSATION

2 PAYMENT SYSTEMS The payment system is an operational network. The payment system is the infrastructure established to effect the transfer of monetary value between countries discharging mutual obligations. It is mainly used for transfering values from international trade fast and efficiently. The payment transactions are accumulated in the accounts of each country. At the end of a given period (previously agreed) all the transactions are settled across accounts showing a surplus or defict balance for each country.

REGIONAL PAYMENT SYSTEMS Latin American Integration Association It is a payment mechanism that lies within this international and regional organization formed by 12 countries from South America.

The final settlement between Central Banks is done in USD. There might be a comission fee. It depends on each country s policy.

3 REGIONAL PAYMENT SYSTEMS Latin American Integration Association It is a payment mechanism that lies within this international and regional organization formed by 12 countries from South America. This mechanism allows electronic funds transfering. The funds come from international trade. Features: The commercial operation is agreed in USD. The final settlement between Central Banks is done in USD. There might be a comission fee. It depends on each country s policy. System in local Currencies It is a payment mechanism signed between Argentina and Brazil. It allows argentinian and brazilian exporters and importers to transfer funds electronically. Features: The Commercial operation is agreed in local currency of the exporting country. The final settlement between Central Banks is done in USD. Fees are charged to authorized entities when it comes to returns.

General Benefits Reduces the time For international payments (in real time) Allows the use of the local currency in their Payments and collections of Foreign trade Eliminates Transaction costs and

4 General Benefits Reduces the time For international payments (in real time) Allows the use of the local currency in their Payments and collections of Foreign trade Eliminates Transaction costs and Mitigate currency risks Simplifies the Commercial and Financial Transactions between importer and Exporter Supports the insertion of SMES and associative Enterprises with Foreign trade Provides security In the settlement of Payments through a Robust and reliable system Helps to optimize the Cash flows of the Business

5 STRUCTURE AND OPERATION SCHEME

6 System Structure Regional Monetary Council Unit of Account sucre For the exclusive use of the Central Banks of the member countries Agent Bank Clearing House Reserve Fund and Regional Convergence Central Banks

Importer and Exporter sign the commercial contract: including the payment through SUCRE clause, or proforma

7 DETALLE PARA REALIZAR OPERACIONES POR EL SUCRE Importer and Exporter agree the transaction (currency; method of payment, other terms and conditions). Importer and Exporter sign the commercial contract: including the payment through SUCRE clause, or proforma invoice issued by the exporter which shall be submitted by the importer to the Authorized Bank. Importer and Exporter obtained the permits required in their countries to foreign trade operations.

THE ACCOUNT OF THE EXPORTER 4 CENTRAL BANK OF BOLIVIA, CUBA, ECUADOR, NICARAGUA AUTHORIZED BANKS IN BOLIVIA, CUBA, ECUADOR, NICARAGUA 1

8 SETTLEMENT PAYMENT IN LOCAL CURRENCY VENEZUELA BOLIVIA, CUBA, ECUADOR, NICARAGUA TRANSFER IN SUCRES (XSU) 3 CENTRAL BANK OF VENEZUELA VENEZUELAN AUTHORIZED BANK 2 SEND THE BOLÍVARES TO THE CENTRAL BANK OF VENEZUELA CONVERTS THE XSU IN LOCAL CURRENCY AND DEPOSITS THEM IN THE ACCOUNT OF THE EXPORTER 4 CENTRAL BANK OF BOLIVIA, CUBA, ECUADOR, NICARAGUA AUTHORIZED BANKS IN BOLIVIA, CUBA, ECUADOR, NICARAGUA 1 PAYMENT IN BOLÍVARES PAYS IN BOB,, NIO, USD (LOCAL CURRENCY FROM EACH COUNTRY) 5 VENEZUELAN IMPORTER BOLIVIAN, CUBAN, NICARAGUAN OR ECUATORIAN EXPORTER

9 AUTHORIZED BANKS TO OPERATE IN THE SUCRE SYSTEM 1. Banco del Pichincha 2. Banco Capital 3. Banco de Machala 4. Banco Sudamericano 5. PRODUBANCO 6. Banco Internacional 7. Banco Nacional de Fomento 8. Banco del Pacífico 9. Banco Central del Ecuador 10.Banco Amazonas 11. PROMERICA 12.Cooperativa de Ahorro y Crédito de la Cámara de Comercio de Ambato 13.Cooperativa de Ahorro y Crédito El Discapacitado 14. Financiera de la República, FIRESA In an import operation creates a debit authorization (resource mobilization)

10 EVOLUTION OF THE OPERATIONS

EVOLUTION OF THE OPERATIONS 2013 SUCRE: Transfers channelled by Ecuador Period 2010 2013, in millons of USD 834.7 822.9 219.1 2.5 4.

11 EVOLUTION OF THE OPERATIONS 2013 SUCRE: Transfers channelled by Ecuador Period , in millons of USD * POR EXPORTACIONES POR IMPORTACIONES */Ecuador started its operations in the SUCRE on July 6th, 2010

12 CONTACT US Verónica Coronel (02) ext Carolina Garzón (02) ext Romeo Carrión (02) ext Ilich Aguirre (02) ext

Agribusiness. Sector

Agribusiness. Sector Agribusiness Sector Introduction Specialized interest and knowledge of your business is the best guarantee of a broad array of financial solutions that Grupo Bancolombia* places at your disposal. The backing