Last Dec. 19, CMN Resolution No. 4,707/2018 and BACEN Circular No. 3,924/2018 were published, establishing criteria for the use of receivables from credit card transactions as collateral for credit transactions, entered into between commercial establishments (CEs) and financial institutions (FIs).
In summary, the accrediting or sub-accrediting entities must settle the transactions at the bank domicile specified in the credit operation contract. Furthermore, the receivables schedule of the CEs must be made available to the FIs responsible for the credit operation. The FIs, in turn, shall indicate the maximum value of the receivables agenda that may be withheld, based on the credit operation agreement, and the CEs are free to move the exceeding amount, including the anticipation of the receipt directly with the accrediting or sub-accrediting companies.
For further information, please contact the attorneys in the Electronic Means of Payment area at Barcellos Tucunduva Advogados([email protected] or 3069.9080).
