The text presented below is intended only to provide basic information on the subject dealt with and does not constitute the official position of the Ministry of Finance on the subject.

One can only be considered a private mechanism for financing exports, if, although regulated and supervised by the Central Bank, rely on private agents to obtain resources (funding) and operationalization.

Advances on Exchange Contracts (ACC) and Advance on Export Contract (or on Foreign Exchange Delivered) (ACE)

The Advances on Exchange Contracts (ACCs) and Advance on Export Contracts (or on Foreign Exchange Delivered) (ACEs) are the modalities of export financing more widespread in the market, historically accounting for more than half the volume of exchange contracts. In both methods, the exporter receives an advance, either partial or total, in national currency of equivalent value to the amount of foreign currency bought by the bank term, discounted at a rate of interest which is added to the international spread embedding the risk of the operation. This anticipation of resources is an important incentive to export, to the extent that the exporter provides the means to fund the process of industrialization and marketing at lower rates than the domestic market. For further information on the subject, go to the Foreign Exchange Market Regulation and International Capital (RMCCI), available at electronics www.bcb.gov.br (Click on the left menu on Foreign Exchange and Foreign Capital and then "Legislation and Regulations" option "RMCCI - Regulation of Foreign Exchange Market and International Capital.")