Provisional Measure No. 1,978-25, June 1, 2000

Original Language Title: Medida Provisória nº 1.978-25, de 1º de Junho de 2000

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## #MPV-001978-0-025-01-06-2000 @ @ @ provisional measure no. 1,978-25, FROM 1 June 2000.
Rules on the renegotiation of debt under the Credit program, Education and other matters.
The Vice-President of the REPUBLIC, in the exercise of the Office of the PRESICENTE of the REPUBLIC, using the allocation that gives the art. 62 of the Constitution, adopts the following provisional measure, with force of law: Art. first The debt balances of contracts concluded in the framework of the program of Educational Credit can be consolidated and refinanced once under this provisional measure.
Art. 2nd refinancing agreements concluded under this provisional measure shall guarantee clauses of the financed amount, as established in resolution of the Caixa Econômica Federal.
Art. 3rd in the Act of composition of the debit balance, will be granted 30% abatement of importance due by way of monetary correction, in the case of contracts entered into after March 1, 1991, this value will be automatically embedded, duly corrected, the value in the event of default of the refinanced contract.
Sole paragraph. The subsidence of the caput shall be 35% in the case of contracts that meet all the benefits in day on the date of composition.
Art. 4th in the refinancing agreement under this provisional measure, the value of the consolidated debit balance will be part of the main debt, and about the same will be calculated the charges due, in accordance with the applicable legislation.
Art. 5 the consolidated debit balance can be refinanced at up to 180 months, subject to the following: I-the refinancing period may not exceed three times the period of use of the educational credit, computed in semesters; and II-the provision resulting from the refinancing cannot be less than R (150 dollars).
Sole paragraph. Exceptionally, in the event that the provision resulting from the refinancing under this article exceeds the 30% of gross household income, is the Caixa Econômica Federal authorized to waive the application of subsection II.
Art. 6 in the event of immediate discharge of the consolidated debit balance shall be granted the following discounts: I-10% of the amount due in the case of contracts concluded until 28 February 1991;
II-30% of the amount due in the case of contracts awarded from 1st of March 1991.
Art. 7 benefits of contracts refinanced under this provisional measure will be due on the last working day of each month, and about these will cover: (I)-fine of 2% in the case of the payment until the last working day of the month subsequent to the due date;
II-chilling 50% the importance of interest in the case of payment to 25 day of the month of expiration, or immediately preceding business day.
(1) in any event, the amortization of financing shall be made by the full value of the benefit that would be due.
§ 2 Is the Caixa Econômica Federal authorized to terminate the refinancing agreement and to implement the full amount of the debt in the event of non-payment of the installment within the time limit referred to in item I of this article.
Art. 8 is provided, at any time, the partial amortization of the debt balance of the agreements in the form of this Provisional Measure refinanced, waived the charging of interest on the early portion, subject to the provisions of item II of art. 5.
Sole paragraph. In the event of total discharge of the debt balance, will be granted a reduction of 20% of its value at the date of discharge.
Art. 9 The refinancing conditions set out in arts. 3rd and 7th of this provisional measure shall be valid: I-until 30 December 1999, for contracts whose grace period has ended until 28 February 1999;
II-for a period of 90 days from the end of the grace period, for contracts with termination of the period of use until the second half of 1999 school.
Sole paragraph. In the event of the accession of the student in the use phase of Educational credit program to fund the student in higher education, which deals with the provisional measure no. 1,972-13, this date, you will be granted the rebates provided for in art. 3 of this provisional measure, by subjecting the resulting debit balance of the Fund regulations.
Art. 10. Get convalidados the acts performed on the basis of provisional measure no. 1,978-24, of 1 May 2000.
Art. 11. This provisional measure shall enter into force on the date of its publication.
Brasília, 1 June 2000; 179 of independence and 112 of the Republic.
March antonio de oliveira maciel Paulo Renato Souza

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