Month: June 2020

New Temporary Credit Conditions in the Nicaragua’s Financial System

Written by: Rodrigo Taboada and Karina Serrano   On June 19, 2020, the Nicaraguan Superintendence of Banks and Other Financial Institutions (“SIBOIF”) published a new regulation that allows an extension of payment terms and the modification of other credit conditions of credit agreements entered as of March 31, 2020. This new regulation was approved as …

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COVID-19 pandemic boosts e-commerce use in Central America

Written by the Banking and Finance Regional Team: Guatemala: Álvaro Castellanos and Diego Alejos El Salvador: Oscar Samour and Felipe Aragón Honduras: José Ramón Paz Morales and Christian Betancourt  Nicaragua: Rodrigo Taboada Costa Rica: Mario Quesada Bianchini and Ana Carolina Álvarez   Confinement and strict measures of social distancing are now part of the reality …

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Honduras: Anticipated Customs Statement in Honduras

Written by: Juan de Dios Herrera The Central American Strategy for Trade Facilitation and Competitiveness with emphasis on Coordinated Border Management, adopted by the Council of Ministers of Economic Integration (COMIECO, its Spanish acronym), contemplates that the Anticipated Customs Statement declaration be completed prior to the arrival of the cargo transport to the border posts.  …

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Guatemala: The use of electronic signatures and documents for the registration of patents, utility models and industrial desig processes in Guatemala

Written by: Nicole Montenegro   Due to COVID-19 and the way in which usual interpersonal relationships changed almost overnight, we have been forced to evolve and develop new tools and procedures using, mostly, technology.   Since 2008, electronic signatures and documents are allowed and regulated in Guatemala by the Law for the Acknowledgement of Communications …

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Costa Rica: Buying Real Estate in Costa Rica

Written by: Juan Manuel Cordero and Daniel Rojas   Before buying real estate in Costa Rica, there are important legal and technical aspects that the buyer must take into account before proceeding with the purchase, in order to prevent future headaches.   Firstly, it is essential to identify the property that will be purchased. In …

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El Salvador: Executive Decree N° 31

Sanitary Protocols to Guarantee the Rights to Health and Life of People, in the process of gradual reactivation of the economy during the COVID-19 Pandemic, applicable in the Western, Central and Eastern areas of the Republic of El Salvador.   EXECUTIVE DECREE Number 31: On June 14, 2020, the Ministry of Health issued a new …

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WIPO PROOF, the prelude to the Blockchain?

Written by: Fabiola Saenz   In previous articles I have dealt with Blockchain as a possible ally of Intellectual Property, studying the theory and uses that it has had in other fields of law and commerce. This topic has piqued my interest because of the disruptive component present in blockchain and its potential for application …

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Diversified Payment Rights (“DPR”) as a financing alternative

Diversified Payment Rights (“DPR”) are a form of securitization of future flows, derived from international payments of various kinds. Some of the sources of flows include international remittances, accounts receivable, credit card payments, and foreign trade flows, among other cross-border activities.   In general, the transaction consists of a local company’s (“the Originator”) sale or …

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El Salvador: How to be a survivor in a financial market after COVID-19?

Written by: Daniel Leiva and Felipe Aragón “You have to start with the customer experience and work backwards to the technology.” Steve Jobs. In the last few months, COVID-19 pandemic create a generalize lockdown and social distancing measures all around the world shaping a challenging scenario for all kind of business and financial services it´s …

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Update of the extraordinary preventive measures, in order to declare El Salvador’s territory subject to sanitary control to contain COVID-19 pandemic.

Due to worldwide COVID-19 pandemic, the measures currently enforced in El Salvador, which mainly affect individuals and companies are the following: EXECUTIVE DECREE Number 24: On May 9th, 2020, the Ministry of Health issued a new Executive Decree in order to establish additional provisions according to the COVID-19 Isolation, Quarantine, Observance and Vigilance Act, as …

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