A German supplier invoices a Brazilian client USD 100,000. A week later, the client’s finance team asks for the beneficiary’s full address, the bank’s SWIFT code and a clearer description of the goods, “for the contrato de câmbio.” The supplier has never heard of the document and wonders why it holds up the payment.
The Brazil FX contract, or contrato de câmbio, is the record of every currency exchange into or out of Brazil through an authorized institution, with the rate, amount, settlement date and purpose of the payment. The Brazilian side closes it, but it relies on information from the foreign company, so missing data delays the payment.
What is a contrato de câmbio?
It is the document that formalizes a currency exchange between a party in Brazil and an institution authorized to operate FX. Every payment that leaves or enters Brazil through such an institution goes through one.
When a Brazilian company pays a supplier abroad, it buys foreign currency with reais. When it receives from abroad, it sells the foreign currency and gets reais. The contract records each of these trades.
Why does a foreign company need to care?
Because the contract depends on data that only the foreign company has. Beneficiary name, address, bank details and the description of what is being paid come from the invoice and from the foreign side.
If any of that data is missing or does not match, the Brazilian institution stops the operation until it is fixed, and the payment waits. Sending complete information upfront is the simplest way to be paid on time.
What does the contract record?
The main fields are the same in almost every contract. The table shows them for the USD 100,000 payment from the opening, and who provides each one.
Field | Example | Who provides it
|
|---|---|---|
Currency and amount | USD 100,000 | Foreign supplier, on the invoice |
Exchange rate and BRL amount | Rate agreed at closing | Brazilian institution |
Purpose of the payment | Import of goods | Brazilian client, based on the invoice |
Beneficiary | Supplier’s legal name and address | Foreign supplier |
Beneficiary bank | Account or IBAN, SWIFT/BIC, intermediary bank | Foreign supplier |
Settlement date | Agreed at closing | Brazilian client and institution |
Supporting documents | Invoice, contract or shipping documents | Both sides |
The purpose of the payment is the classification of the operation, such as import of goods, payment for services or investment. It defines the documents required and the tax treatment on the Brazilian side.
What will your Brazilian counterparty ask you for?
Expect requests for the beneficiary’s full legal name and address and for complete bank details: account number or IBAN, the bank’s SWIFT/BIC code and, when there is one, the intermediary bank.
The counterparty will also need an invoice or contract that matches the payment. Amount, currency, beneficiary name and a clear description of the goods or services should be the same across all documents.
Payments to Brazil stuck on paperwork? Talk to our team.
How long does settlement take?
The settlement date is set when the contract is closed. On that date, the Brazilian party delivers reais and the institution delivers the foreign currency, or the reverse for incoming payments.
After settlement, the time until the money reaches the beneficiary depends on the route, the correspondent banks, holidays and the completeness of the data. Transfero’s comparison of SWIFT and blockchain for international payments explains how the route affects timing.
What changed with Brazil’s 2022 FX law?
Law No. 14,286, of December 29, 2021, in force since December 31, 2022, consolidated Brazil’s FX rules into a single framework. It replaced a large body of older rules and simplified how FX operations are carried out.
BCB Resolution No. 277, of December 31, 2022, regulates the law. From article 49 onward, it covers eFX providers, which handle cross-border payments on behalf of clients.
The framework now also covers stablecoins. BCB Resolution No. 521, of November 10, 2025, added article 76-A to Resolution 277: since February 2, 2026, stablecoin trades in Brazil are FX market operations.
How does Transfero support cross-border payments with Brazil?
Transfero’s cross-border payments run on the Transfero Payments Network (TPN), a layer that connects banking rails, blockchain networks and liquidity providers. The platform processed more than 9.8 million transactions in 2025.
Money moved globally in minutes, through Transfero’s cross-border payments
Predictable 24/7 payouts across multiple countries
More than 180 payout markets
Transfero’s guide on how to choose an international payments provider covers the criteria for comparing options.
Questions to answer before your next payment with Brazil
Does your invoice show your full legal name, address and a clear description of the goods or services?
Have you sent complete bank details, including the intermediary bank if there is one?
Do amount and currency match across invoice, contract and payment request?
Do you know which purpose your counterparty will use to classify the payment?
Who bears the bank fees, and is that written on the invoice?
Have you asked for a copy of the payment confirmation once the contract settles?
Talk to Transfero about FX into and out of Brazil.
Frequently asked questions
Does the foreign company sign the FX contract?
Usually not. The contract is closed between the Brazilian party and the authorized institution in Brazil. The foreign company provides the data and documents the contract relies on, such as the invoice and bank details, so its role is to make that information complete and consistent.
Can the contract be in USD or EUR?
Yes. The contract records the foreign currency of the payment, such as USD or EUR, together with the exchange rate and the amount in reais. The beneficiary abroad receives the foreign currency stated in the contract.
What happens if the purpose code is wrong?
A wrong classification can change the documents required and the tax treatment in Brazil. The institution may question the operation or require it to be corrected, which delays the payment. A clear description on the invoice helps the Brazilian side choose the right purpose.
Do stablecoin payments need an FX contract?
Since February 2, 2026, stablecoin trades in Brazil are FX market operations under Resolution 521, which added article 76-A to Resolution 277. They follow the FX rules, and the form of the record depends on the institution that carries out the operation.
