PROVISIONAL MEASURE NO. 2.099-34, OF January 25, 2001

Disposes on the renegotiation of debts under the Educational Credit Program, and gives other arrangements.

THE PRESIDENT OF THE REPUBLIC, in the use of the assignment that confers it on art. 62 of the Constitution, adopts the following Provisional Measure, with force of law:

Art. 1º The debtor balances of contracts concluded under the Educational Credit Program will be able to be consolidated and refunded, a only time, pursuant to this Provisional Measure.

Art. 2º The refinancing contracts entered into pursuant to this Interim Measuring will contain guarantee clauses of the financed value, as set out in resolution of the Federal Economic Box.

Art. 3º In the act of composition of the debtor balance, it will be granted abatement of thirty percent of the importance due to monetary correction title, in the case of the contracts concluded after 1º March 1991, value this that will be automatically incorporated, properly corrected, to the refunded value in the inadimplement of the contract.

Single paragraph. The abatement of which treats the caput will be thirty-five percent in the case of contracts that meet all the installments in day on the date of the composition.

Art. 4º In the refinancing contract pursuant to this Provisional Measure, the value of the consolidated debtor balance will henceforward to integrate the principal of the debt, and, on the same shall henceforward be calculated the charges due, in the form of the applicable legislation.

Art. 5º The consolidated debtor balance could be refunded in up to one hundred and eighty months, noted the following:

I-the refinancing term will not be able to surpass three times the period of use of the educational credit, computed in semesters; and

II-the resulting benefit from the refinancing may not be less than R$ 150.00 (one hundred and fifty reais).

Single paragraph. Exceptionally, in the assumption that the benefit resulting from refinancing under this article exceeds thirty percent of the contractor's gross household income, it is the Federal Economic Box authorized to dispense with the application of inciso II.

Art. 6º In the immediate settlement assumption of the consolidated debtor balance, the following discounts will be granted:

I-ten percent of the value due in the case of the contracts concluded up to 28 percent of February 1991;

II-thirty percent of the value due in the case of the contracts concluded from 1º March 1991.

Art. 7º The installments of the refunded contracts under this Interim Measuring will be due on the last working day of each month of competence, and on these will be concerned:

I-fine of two per per cent in the case of payment until the last working day of the subsequent month to maturity;

II-abatement of fifty per cent of the importance corresponding to the interest in the case of payment by day 25 of the month of maturity, or day useful immediately preceding.

§ 1º In any hypothesis, the amortization of funding will be made by the full value of the benefit due.

§ 2º Stay the Federal Economic Box authorised to terminate the refinancing contract and to carry out the total debt value in the event of non-payment of the instalment within the time referred to in the inciso I of this article.

Art. 8º It is provided, at any time, the partial amortization of the debtor balance of the refunded contracts in the form of this Provisional Measure, waived the collection of interest on the early repayment, noted the willing in the inciso II of the art. 5º.

Single paragraph. In the hypothesis of full discharge of the debtor balance, a rebate of twenty percent of its value on the date of discharge will be granted.

Art. 9º The conditions of refinancing established in the arts. 3º to 7º of this Provisional Measure will be valid:

I-until December 30, 1999, for contracts whose deficiency has ended until February 28, 1999;

II-by the term of ninety days counted from the termination of the deficiency, for contracts with termination of the period of use until the second school semester of 1999.

Single paragraph. In the assumption of accession of the student in use of the Educational Credit Program to the Student Funding Fund of Higher Education, that it treats the Provisional Measure No. 2.094-23, of this date, shall be granted the rebates provided for in art. 3º of this Provisional Measure, subjecting the debtor balance resulting from the standards of the said Fund.

Art. 10. They are convalidated the acts practiced on the basis of the Provisional Measure No. 2.099-33 of December 27, 2000.

Art. 11. This Interim Measure shall come into force on the date of its publication.

Brasilia, January 25, 2001; 180º of Independence and 113º of the Republic.

FERNANDO HENRIQUE CARDOSO

Silvano Gianni