Provisional Measure No. 1925-6 of 30 March 2000.
Regulates the Bank Credit.
The PRESIDENT OF THE REPUBLIC, using the powers conferred upon him by art. 62 of the Constitution, adopts the following Provisional Measure, with force of law: CHAPTER I
OF BANKING Art CREDIT BALLOT. 1 The Bank Credit is credit security issued by individuals or legal entities, in favor of the financial institution or entity to this equivalent, representing a promise to pay in cash, resulting from credit operations of any kind.
§ 1 The creditor institution shall include the national financial system, which allowed the issuance of Bank Credit in favor of overseas domiciled institution, provided that the obligation is subject only to the law and the Brazilian forum.
§ 2 The bank credit note in favor of institution domiciled abroad may be issued in foreign currency.
Art. 2 The Bank Credit Certificate may be issued with or without guarantee, real or personal, cedularmente made.
Sole paragraph. The security provided shall be specified in the Bank Credit, subject to the provisions of Chapter II of this Provisional Measure and, as they are not conflicting with these, the common or special legislation.
Art. 3 The Bank Credit ballot is an extrajudicial execution and represents debt in cash, certain, liquid and payable, or the sum indicated therein, is the outstanding balance shown in the spreadsheet, or in extracts of the current account, prepared as provided for in § 2.
§ 1 In Bank Credit may be agreed:
I - the interest on the debt, capitalized or not, the criteria for their impact and, if applicable, the frequency of its capitalization, as well as the expenses and other charges arising from the obligation;
II - the monetary adjustment criteria, as permitted by law or the criteria of currency debt update, in accordance with § 2 of art. 1 and in other cases allowed by law;
III - cases of occurrence of default and incidence of fines and contractual penalties, as well as the possibility of early maturity of the debt;
IV - the criteria for calculation and reimbursement by the issuer or a third party guarantor, the collection costs of debt and legal, judicial or extrajudicial fees, and extra-judicial legal fees may not exceed the ten percent limit the total amount due;
V - where applicable, the type of debt guarantee, its extent and the chances of replacement of such guarantee;
VI - the obligations to be met by the lender;
VII - the obligation of the lender to issue current account statements or debt spreadsheets, or their balances, according to the criteria established on the Bank Credit, subject to the provisions of § 2;
and VIII - other credit granting conditions, warranties or their liquidation, additional obligations of the issuer or guarantor of the obligation party, provided they do not contravene the provisions of this Provisional Measure.
§ 2 Where necessary, the determination of the exact value of the bond or their debt balance represented by the Bank Credit Note will be made by the lender through calculation or current account statements spreadsheet, or both these documents that compose the ballot, observed that:
I - the calculations made should show a clear, precise and easy to understand and understanding, the principal amount of debt, charges and expenses due contract, the share of interest and the criteria for their impact, the share of monetary or foreign exchange, the portion corresponding to fines and other contractual penalties, collection costs and attorney's fees due until the date of calculation, and finally the total value of the debt; and
II - Credit Note representative Bank debt arising from bank credit facility agreement in the current account will be issued for the total amount of credit made available to the issuer, competing to the lender, under this paragraph, discriminate in extracts the current account or in spreadsheets that will be attached to the ballot, the parcels used open credit, increases initially granted credit limit, any debt repayments and the impact of charges for various periods of credit use Open.
Art. 4 The Bank Credit must contain the following key requirements:
I - the name Bank Credit Certificate ?;
II - the issuer's promise to pay the debt in cash, certain, liquid and payable at maturity or, in the case of debt arising from bank credit facility agreement, the issuer's promise to pay the debt in cash, certain, liquid and due corresponding to the used credit;
III - the date and place of debt payment and, in the case of payment in installments, the dates and amounts of each installment, or the criteria for the determination;
IV - the name of the creditor institution and may contain a clause to the order;
V - the date and place of issue; and
VI - the signature of the issuer and, if applicable, the guarantor of the obligation third party, or their authorized representatives.
§ 1 The Bank Credit can be transferred object in accordance with the provisions of law, in which case the transferee, while not a financial institution or entity equivalent to it, will be subrogated to all rights of transferor and may also charge interest and other charges as agreed in Ballot.
§ 2 The Bank Credit shall be in writing, in as many ways as there are parts that it intervened, signed by the creditor, issuer and the third guarantor, if any, or their authorized representatives, and each party receives a way.
§ 3 Only the way the lender will be negotiable and must appear in other ways and expression? Nonnegotiable ?.
§ 4 The Bank Credit can be added, rectified and ratified by written documents, dated, with the requirements laid down in the previous paragraph, passing the document to join the ballot for all purposes.
CHAPTER II GUARANTEES CEDULARMENTE INCORPORATED
Art. 5. The condition of the provision of the guarantee represented by the Bank Credit Certificate is regulated by this Provisional Measure, and the provisions of the common or special legislation are not conflicting with it.
Art. 6 The guarantee of Bank Credit can be collateralized or real, in the latter case constituted by well asset of any kind, available and alienable, movable or immovable, tangible or intangible, present or future, fungible or non-fungible, consumable or not, whose ownership belongs to the issuer itself or a third party guarantor of the principal obligation.
Sole paragraph. The rights of pledge is constituted by the mere notification to the debtor's apenhado right.
Art. 7 The provision of security may be performed at the Bank Credit Certificate or in a separate document, in this case making it, the ballot, mention that fact.
Art. 8 The constitutive good of the guarantee must be described and individualized in order to allow easy identification.
Sole paragraph. The description and individualization of the constitution of the guarantee and may be replaced by a reference to document or certificate issued by a competent authority, which will integrate the Bank Credit Note for all purposes.
Art. 9. The guarantee obligation shall extend well beyond the main constituent of the warranty, all accessories, improvements of any kind, valuations in any way, and any fruit and linked to the main well by physical accession, intellectual, industrial or natural.
§ 1 The creditor may endorse, the competent body for the constituent and the warranty registration, the existence of any other property covered by it.
§ 2. Until the effective settlement of the secured obligation, the goods covered by the guarantee may not, without the prior written consent of the creditor, be altered, removed, displaced or destroyed, or may have modified their destination, except when the security is given by livestock or vehicles, motor or not, and the removal or displacement of these goods is inherent in the issuer's activity of Bank Credit, or the third of the collateral provider.
Art. 10. The assets comprising the Collateral guarantee or chattel mortgage object may, at the lender's discretion, remain under the direct ownership of the issuer or third party provider of the guarantee, under constituto possessory clause, in which case the parties shall specify the place where the well will be saved and saved until the effective settlement of the secured obligation.
§ 1 The issuer and, if applicable, the third of the collateral provider jointly answerable for safekeeping and conservation of the constitutive good of warranty.
§ 2 When the guarantee is furnished by a legal entity, this will indicate representatives to respond in accordance with the preceding paragraph.
Art. 11. For effectiveness in the face of third parties Collateral guarantees or liens will be sufficient in the case of motor vehicles of any kind, the registration of the burden on its transit agency, which should be made the record for acquisition or transfer of rights.
Art. 12. The lender may require the incorporation of warranty and is covered by insurance until the effective settlement of the secured obligation, in which the lender will be appointed as the sole beneficiary in the insurance policy and shall be entitled to receive the compensation to settle or pay off the obligation secured .
Art. 13 If the constituent warranty and is expropriated or is damaged or perish in fact attributable to a third party, the lender subrogate shall be the right to compensation payable by the expropriating or third cause of damage to the amount necessary to settle or pay off the secured obligation.
Art. 14 In the cases provided for in arts. 24:13 this Provisional Measure, will provide it to the lender require replacement warranty, or strengthening, renouncing the right to receive the value of the compensation.
Art. 15. The lender may require replacement or reinforcement of security in the event of loss, damage or decrease in value.
Sole paragraph. The lender shall notify in writing the issuer and, if applicable, the third guarantor, to replace or reinforce security within fifteen days, under penalty of accelerated maturity of the guaranteed debt.
CHAPTER III SPECIAL PROVISIONS
Art. 16. In the revolving credit operations, the credit limit granted will be recomposed automatically and during the term of the Bank Credit, where the debtor, not being in arrears or in default, pay off or settle the debt.
Art. 17. To protest drafting purposes, the Bank Credit Note may be forwarded copies thereof to the official office, provided that the institution creditor declares to be in possession of their only means negotiable and indicate the amount by which will be protested, including in case of partial protest.
Art. 18. The validity and effectiveness of the Bank Credit do not rely on record, but the collateral, constituted by it are subject to enforce against third parties to set records or approvals in the applicable legislation, as amended by this Provisional Measure .
Art. 19. Financial institutions, when authorized by the Central Bank of Brazil and the conditions established by the National Monetary Council may issue Bank Credit Certificates Certificates - CCB-effective ballast in Bank Credit held in custody to trade these credits in the market national or international, with people or not members of the national Financial System.
§ 1 The Bank Credit Notes issued in terms of this Provisional Measure, which give rise to the CCB, should remain in custody authorized financial institution in terms of the caput, which will charge to the respective debtors.
§ 2 The CCB can be deployed or grouped for convenience of the issuer or acquirer.
§ 3 The capital entered in the case of trading in foreign markets, it will be registered in the Central Bank of Brazil through proof of the effective trading of foreign currency in the country.
§ 4 The CCB may be issued in physical or dematerialized form and, in both cases, recorded in magnetic files organized by the issuer, which shall include:
I - the place and date of issue;
II - the depositor name of Bank Credit Notes;
III - the name of the issuing financial institution;
IV - the name Bank Credit Certificate - CCB ?;
V - the explicit indication of their ballot or ballots under which it has been issued, the principal amount, the agreed charges and the amortization period, total or partial, and the final maturity;
VI - the names of debtors issuers of Bank Credit Notes; and
VII - the place and the payment dates of the main rescue and charges of Bank Credit Notes.
§ 5. The CCB may be transferred by endorsement or assignment term, is scriptural, but in any case, the transfer is signed and dated by the owner or agent with special powers and endorsed by the issuing institution within two days.
§ 6 The costs and charges arising from CCB transfer and registration will be borne by the assignee, unless otherwise agreed.
CHAPTER IV GENERAL PROVISIONS
Art. 20. Applies to Bank Credit Notes, as not contrary to the provisions of this Provisional Measure, exchange legislation, dismissed the protest to guarantee the right of recourse against endorsers, guarantors and guarantors third parties.
Art. 21. The titles of credits and receivables, represented in book-entry form or physical, which have been discounted object, may be admitted to rediscount at the Central Bank of Brazil, observing the rules and instructions issued by the National Monetary Council.
§ 1 The debt securities and receivables in the caput will be considered transferred to rediscount purposes, the property of the Central Bank of Brazil, since enrolled in constant electronic tradition of term system Central Bank information - SISBACEN, or even the tradition of the term provided for in § 1 of art. 5 of Decree No. 21499 of June 9, 1932, as amended by art. 1 of Decree No. 21928 of 10 October 1932.
§ 2 are understood to be registered in terms of tradition referred to in the previous paragraph the titles of credit and credit direct them listed and described, observing the requirements, criteria and forms established by the National Monetary Council.
§ 3 The application shall have the same legal effects endorsement, only perfecting with the receipt by the applicant financial institution rediscount, acceptance message from the Central Bank of Brazil, or, not being the electronic tradition term after the signature of the parties.
§ 4 The credit instruments and documents representing receivables, registered in terms of tradition, may, at the discretion of the Central Bank of Brazil, remain in direct ownership of the beneficiary's financial institution discount, which will keep them and keep on deposit and should proceed, as a commission del credere, to a judicial or extrajudicial collection.
Art. 22 are hereby validated the acts performed pursuant to Provisional Measure No. 1925-5 of 2 March 2000.
Art. 23. This Provisional Measure shall enter into force on the date of its publication.
Brasilia, March 30, 2000; 179th of Independence and 112th of the Republic.
Cardoso Pedro Malan