New Reserve Bank export regulations now mandatory

From July 1, the SA Reserve Bank (SARB) has made it compulsory for all “authorised dealers” to make two crucial reference numbers available. According to Queen Mogane, who handles electronic monitoring and match of exports for the SARB, the bank now requires authorised dealers to provide the ‘customs client number’ (designated to the exporter by customs); and the ‘unique consignment reference’ (provided to customs by the exporter). The CCN and the UCR reference numbers form part of the single administration document (SAD 500) which is provided to customs at the time of shipment. Mogane indicated to FTW that it had not been compulsory up to now to provide this information – except by those selected exporters who participated in the SARB export pilot project. But the bank, she added, now requires authorised dealers to make this data capture as part of the balance of payment (BOP) reporting process.