Regulatory Alerts2012-04-03
Notice No. 16/2012 of April 3
The National Bank of Angola issued Notice No. 16/2012 to regulate financial assignment (factoring) contracts concluded by authorized companies, establishing precise definitions, rights, obligations, and minimum contractual requirements. The notice mandates that banking institutions adhere to specific prudential standards, including written agreements accompanied by invoices or electronic documentation, clear party identification, and explicit calculation of commissions, interest, and recourse models. It further outlines termination procedures under Angolan civil law and stipulates that the regulations enter into force thirty days after publication.
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