RSA Exports - Recommended Terms Irrevocable confirmed letter of credit. The Standard Bank of South Africa has the capacity to confirm letters of credit issued by prime Chilean banks on a case by case basis. The Council of the Central Bank is responsible for carrying out exchange control policy. . The Central Bank has amended requirements so that exporters are allowed to change all export earnings without restriction. . Payments for visible trade transactions, the official exchange market, is not permitted unless an Informe de Importscion has been issued.
Most imports are free of controls, with the exception of used motor vehicles.
A form called Informe de Importacion, issued by the Central Bank, which must be obtained and processed through a local commercial bank, is required for all imports having a value of more than USD 3 000. This certificate is for statistical reasons, but is free and normally issued on a pro forma basis. Samples of no commercial value are duty free. Duties are ad valorem based on the CIF value of the goods. Warehousing facilities are available in Chile.