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North American Free Trade Agreement (NAFTA)

Each Party shall permit all transfers relating to an investment of an investor of another Party in the territory of the Party to be made freely and without delay. (Article 1109(1)).

Each Party shall permit transfers to be made in a freely usable currency at the market rate of exchange prevailing on the date of transfer with respect to spot transactions in the currency to be transferred. (Article 1109(2)).

Notwithstanding paragraphs 1 and 2, a Party may prevent a transfer through the equitable, non-discriminatory and good faith application of its laws relating to:

a) bankruptcy, insolvency or the protection of the rights of creditors;
b) issuing, trading or dealing in securities;
c) criminal or penal offenses;
d) reports of transfers of currency or other monetary instruments; or
e) ensuring the satisfaction of judgments in adjudicatory proceedings. (Article 1109(4)).

Free Trade Agreement of the Group of Three among Mexico, Colombia, and Venezuela (Group of Three)

Each Party shall permit transfers to be made in a freely convertible currency at the market rate of exchange prevailing on the date of transfer with respect to spot transactions in the currency to be transferred, without prejudice to the provisions of Article 17-07(6). (Article 17-07(2)).

Notwithstanding paragraphs 1 and 2, each Party may, to the extent and for such time as may be necessary, prevent transfers through the equitable and non-discriminatory application of its laws with respect to: a) bankruptcy, insolvency, or the protection of the rights of creditors; b) issuing, trading,

and dealing in securities; c) criminal or administrative offenses; or d) ensuring the satisfaction of judgments in adjudicatory proceedings. (Article 17-07(3)). Moreover, each Party may, through the equitable and non-discriminatory application of its laws, request information and impose requirements concerning reports of transfers of currency or other instruments. (Article 17-07(4)).

The provisions of this Article notwithstanding, each Party shall be entitled, under circumstances of exceptional or serious balance-of-payments difficulties, to limit transfers temporarily in an equitable and non-discriminatory manner, in accordance with internationally accepted criteria. (Article 17-07(6)).

Common Market of the South (MERCOSUR)

Members:
Transfers shall be effected without delay in a freely convertible currency at the rate of exchange applicable on the date of transfer, in accordance with the procedures established by the Contracting Party in which territory the investment was made. Such procedures shall not impair the rights set forth in this Article. (Article 5(2) of the Colonia Protocol).

Non-Members:
Transfers shall be effected without delay in a freely convertible currency. (Article 2(E)(2) of the Buenos Aires Protocol).

Andean Pact

The owners of a direct foreign investment, as well as subregional investors, shall have the right to transfer abroad, in freely convertible currency, as provided in the legislation of each Member Country, the proven net earnings deriving from their direct foreign investment. (Article 4).

Caribbean Community and the Caribbean Common Market (CARICOM)

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