GTEB CIRCULAR NO. 03, S. OF 1999

The Board approved the suspension of the Transfer and Swap Scheme for categories 338/9, 347/8, 638/9, 647/8, and 7/8A as of December 01, 1998, for the first quarter of 1999 (January-March).
Circular 011 dated December 03, 1998, communicated this suspension.
In response to industry requests, the Board lifted the suspension on March 26, 1999, effective April 01, 1999.

The Transfer of Export Quota (EQ) is subject to specific conditions: • Maximum transfer allowed is 20% of the firm's total EQ in a particular category. • Firms with an EQ in a category that received Export Authorization (EA) during regular allocation are prohibited from transferring any quota for the year. • Firms that have transferred EQ in a given category are disqualified from participating in the over-the-counter (OTC)/guarantee allocation for that category.

The Swap scheme is designed to prevent circumvention of rules and is limited to swaps within categories of the same status: • Critical categories can swap with critical categories. • Semi-critical categories can swap with semi-critical categories. • Non-critical categories can swap with non-critical categories.

Except for the modifications stated, all other provisions of Rule V Section 9 of the Rules on Transfer and Swap schemes remain in effect.

The Circular was adopted on March 26, 1999, by Felicitas R. Agoncillo-Reyes, Executive Director.

The GTEB Circular reinstated the Transfer and Swap Scheme effective April 01, 1999, following a suspension.
Transfers are limited to 20% of total EQ, with strict conditions on eligibility and participation in further allocations.
Swaps are restricted to categories of the same status to ensure compliance with regulatory standards.
Other provisions of the existing rules remain unchanged.