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     1. A-F
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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
Gabon	2, 4	Member	No schedule of specific commitments	Ordinance No. 6/79 of February 22,1979 Decree No. 0215/PR/MINECOFIN of February 22, 1979 Code CIMA, Art 278
Remarks	Imported goods of a FOB value exceeding 300 000 F CFA must be insured locally. Exemption are granted when cover is not available locally.
Ghana	2, 4	Member	No schedule of specific commitments	Decree of 1st January 1973 Ghana Shippers Council (Cargo sharing) Regulations 1987 (legislative instrument No 1347) Insurance Law of 1989
Remarks	Imports into Ghana must be covered by a local insurer. Exports may be insured abroad apart from cocoa and gold shipments which remain 100% insured by the State Insurance Company of Ghana.
Guinea	2,4,6	Member	No schedule of specific commitments	Decree No.234/PRG/84 of September 24 1984 Ordinance No.080-PRG/87 of 22.12.87.
Remarks	-
Indonesia	2,4	Member	Unbound except as stated in the remark column	Indonesian Shipping Act No.2 of 1992 Code of Commerce Part IX and X
Remarks	All imports must be insured in the country with an Indonesian registered Company. Consumption aboard is allowed only if there is no Indonesian Company which has the capacity to cover the risk, or no local company which is willing to cover the risk or if the Insured is not Indonesian or an Indonesian entity. Restriction will not be eliminated before 2020. However legal requirement is often circumvented and most imports continue to be bought on a CIF basis. Infringements may lead to up to 15 year imprisonment and a fine of a maximum USD 280 999 .
Iran	2,4	No	-	Bimeh Markazi Establishment Act of June 1971
Remarks	State owned Iranian banks do not accept to open letters of credit without production of a local cargo policy providing a minimum clause C Cover. Exceptions are possible depending on the contract / agreement concerned.
Iraq	-	Observer	-	Central Bank regulations of Iraq
Remarks	Laws governing transport insurance in Iraq no longer apply due to destabilized war situation.
Jordan	2,4	Member	Unbound	Insurance Business code No 30,1984, as modified in 1995
Remarks	Cargo must be insured in Jordan although some shipments are purchased CIF. Exports are often sold FOB
Kenya	2,4	Member	Unbound except for aviation, marine and engineering.	Decree of 1st July 1978 Insurance Act of 1984 and Insurance Regulations of 1986
Remarks	Although local insurance is compulsory for imports, a large volume of imported cargo enters Kenya on a CIF basis. The insurance of exports is at the discretion of the overseas buyer. Exchange control regulations have been significantly relaxed and consequently it has become difficult to control unauthorised non-admitted insurance.
Liberia	1,3	Intention of application	-	Insurance Act of 1973
Remarks	Rumours circulate that local exports insurance is now compulsory. Confirmation has never been received.
Libya	2	Application for membership accepted	-	Ordinance No. 75-002 of June 16 1975
Remarks	The insurance of marine cargo imports is compulsory only in case of letter of credits. Buyers can also import on a CIF basis in case of cash against documents. Imports by private sector are now allowed.

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