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Home > Useful Information

Restrictive Legislation

Restrictive Measures

1. Forbidden for the seller to insured exports abroad
2. Forbidden for the buyer to insure imports abroad
3. Forbidden for the seller to export on a FOB basis
4. Forbidden for the buyer to import on a CIF basis
5. Special taxes and extra charges
6. Currency restrictions

View Restrictive Measures:

• A to F
• G to L
• M to R
• S to Z

Country	Restrictions	WTO Membership	MAT Cross border & consumption Commitments under GATS	Domestic Insurance law
Algeria	2, 4, 6	Observer	-	Ordinance N'95-07 of January 25,1995 Executive decree 95-412 of 9 December 1995 specifies exceptions from the prohibition on non marine insurance of goods imported by sea and air. Art 194 of the Code of Insurance.
Remarks	Any Importer who wants to insure the goods or the capital goods transported by sea should sign an assurance with an insurance company approved in Algeria. However, the goods or the imported capital goods that benefit from a specific financing are not subjected to this obligation of assurance. The conditions and the modalities of application of the present article are clarified by statutory way.
Angola	2,4	Member	No schedule of specific commitments	Decree 172 / 79 of August 1979 Insurance law 1/100 of February 2000
Remarks	Decree no. 172/79 dated August 1979 prohibited the non-admitted insurance of imports. This law has apparently not been applied to all imports and many imported goods have been insured abroad. Currently there is lobbying from the insurance industry for a new law to clarify the situation. This law seems to have been drafted and is awaiting enactment.
Bangladesh	2,4	Member	No schedule of specific commitments	Insurance Corp. Act of June 23 1973 Substitution of Section 23, Act VII of 1973 in Ordinance no. LI,11.08.1984
Remarks	Imports must be insured with Sadharan Bima Corporation, unless Controller of Insurance grants an exemption.
Barbados	-	Member	No schedule of specific commitments	Insurance Act 1996
Remarks	Goods imported into or exported from Barbados must be insured with an insurer registered under the Insurance Act 1996, whether established inside or outside Barbados.
Benin	2,4	Member	No schedule of specific commitments	Decree no.83.406 of November 16 1983 Code CIMA Art.278
Remarks	Cargo Imports must be insured under Beninese legislation. The regional insurance law (CIMA Code) makes provision for such local requirements.
Bolivia	1,2,3,4	Member	Unbound	Law no.1883 of June 25 1998
Remarks	50%-60% of the merchandise imported into the country is contraband. The law requires that both exports from and imports into Bolivia must be insured locally, but the regulation are not enforced by customs as far as exports are concerned and many small importers simply ignore the law, threatening not to pay hauliers if the goods are damaged, rather than buying insurance. Goods are frequently purchased in bond in Chile and smuggled into Bolivia.
Brazil	2,4	Member	Unbound	Resolution No.3-71 of January 27 1971
Remarks	Imports into Brazil must be insured locally and CIF imports are therefore not allowed. Exports are free from any such restrictions and insurance can be placed by the buyer abroad or locally
Burkina Faso	2,4	Member	No schedule of specific commitments	Ordinance No.83-022 of November 17 1983 Decree No. 84 of December 30 1983 Code CIMA, Art 278.
Remarks	Imported goods exceeding 500,000 F CFA in value must be insured with insurers authorised to operate in Burkina Faso. Several organisations such as governmental and international organisations, oil companies, are released from this obligation. An insurance certificate is required by Customs to clear the goods. The minimum insurance taken out locally must be 'FPA'.
Burundi	1,2,3,4	Member	No schedule of specific commitments	Ordinance No. 540.141 of June 9 1983
Remarks	-
Cambodia	2,4	Observer	Accession adopted in Cancun in 2003. Ratification deadline extended to September 2004	Section 1 General Regulation of the Ministry of Finance Circular No.2 of April 6 1993 Regulation 2001.
Remarks	Despite as new regulation introduced in February 2001 that encourages clients and insurance agents to place their business in Cambodia, most export trade is conducted on a FOB basis and imports are purchased CIF. Only 10% of all export / import trade are insured in Cambodia.
Cameroon	2,4	Member	No schedule of specific commitments	Law No.7514 of December 8 1975 Decree No. 76/334 of August 6, 1976 Decree No. 30-78 of April 22,1978
Remarks	It is forbidden to insure imported goods abroad when their value exceed 500 000 F CFA. Exemptions are possible subject to previous agreement with the Ministry of Finance. Code CIMA Art.278
Cape Verde	1,2,3,4	Observer	-	Decree 30/78 of 22 April 1978
Remarks	Exemptions are possible subject to previous agreement by the Ministry of Finance in Cape Verde.
Central African Republic	2,4	Member	No schedule of specific commitments	Ordinance No.83.052 of August 2, 1983 Decree No. 84.128 of April 27 1984 Code CIMA, Art 278.
Remarks	Imported goods with a value equal or exceeding 500,000 F CFA must be insured locally. Goods are cleared only after production of the certificate of insurance.
Chad	2,4	Member	No schedule of specific commitments	Decree No.736 of November 19 1985 Decree No.0019 of April 2 1986 Code CIMA Art 278
Remarks	Imported goods with a FOB value equal or exceeding F CFA 500,000 must be insured locally.
Congo (Brazzaville)	2,4	Member	No schedule of specific commitments	Decree No.8-562 of October 31 1977 Code CIMA Art 278
Remarks	All properties and goods imported into Congo must be insured with two insurance companies (ARC - Societe d'assurances du Congo and AGC) or with insurance brokers or agents. Despite this law, importers continue to buy goods on a CIF basis.
Congo Democratic Republic (Kinshasa)	1,2,3,4	Member	No schedule of specific commitments	Law No. 73-009 of January 5 1973 Law November 1973
Remarks	In practice, a number of imported goods are bought on a CIF basis, as domestic capacity is not sufficient enough to settle claims. For currency saving purpose, exports are frequently sold on a FOB Basis, freight and insurance being borne by the buyer.
Cuba	-	Member	Unbound	Decree Law No 177 effective in September 1997
Remarks	The insurance of imports and exports depends upon the terms of trade but Cuban insurers are entitled to the first option for the insurance of exports. Most exports are insured by ESICUBA.
Djibouti	2,4	Member	No schedule of specific commitments	Article 193 of the Insurance Law 2000
Remarks	Local insurance of imported goods is obligatory. Under the terms of the new law on insurance 2000, imported goods can be taken out either with Djibouti based insurance companies or with natural person or legal entities authorised to operate in the country. Accordingly, insurance seems to be forbidden.
Dominican Republic	2,4	Member	Unbound	Insurance Law 146-02 of September 2002
Remarks	By law, imports must be insured in the local market, but exports may be insured overseas. However, the law defines that any insurance which cannot be obtained in the Dominican Republic and permits - subject to prior agreement - placement with an overseas insurer. Fines between 5 and 50 minimum salaries are provided for any infractions of the law.
Ecuador	2,4	Member	Unbound	Decree No.02-70 of February 25,1970 Law on Insurance (Official Register No.290 of 03.04.98) Art.66 c) and d)
Remarks	Authorisation of the Superintendency may be granted when insurance is not available locally.
Ethiopia	2,4	Observer	-	Notice No. 1/1977 of January 5, 1977 Directive No.FXD/16/2001
Remarks	When goods are imported or exported cash against document, insurance abroad is allowed.

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