Regulatory Alerts2011-12-19
Notice No. 15/2011 of December 19
The Bank of Angola issued Notice No. 15/2011 to establish the terms, definitions, and minimum requirements for financial assignment (factoring) contracts executed by authorized institutions. The regulation mandates that banking entities and factoring companies adhere to specific rights, obligations, and contractual forms for both recourse and non-recourse assignments. It further stipulates that these contracts must be executed in writing, accompanied by supporting documentation or electronic records, and will enter into force thirty days after publication.
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