Rule · BCB · 12 Dec 1995 · Carta Circular 2605

Circular Letter No. 2605 — Clarifies on Contracts for Assignment of Credit Rights

Financial institutions and leasing companies must observe arts. 1,065 to 1,078 of the Civil Code and Resolution no. 1,962 of 27.08.92 when drafting contracts for assignment of credit rights. They must comply with the prohibitions in art. 7 of that Resolution. Any co-obligation assumed by the assignor, where it exists, may be stipulated only as subsidiary liability under art. 3, item I of that Resolution.

BrazilBanco Central do Brasil

CIRCULAR LETTER NO. 002605

Clarifies on contracts for assignment of credit rights

We clarify that financial institutions and leasing companies, when drafting contracts for assignment of credit rights, must observe the provisions contained in arts. 1,065 to 1,078 of the Civil Code and the norms contained in Resolution no. 1,962 of 27.08.92, mainly with regard to:

I - the prohibitions referred to in art. 7 of the aforementioned Resolution;

II - the co-obligation assumed by the assignor, which, when it exists and by force of the provisions of art. 3, item I, of the aforementioned Resolution, may only be stipulated in the form of subsidiary liability.

Brasilia, December 12, 1995

DEPARTMENT OF NORMS OF THE FINANCIAL SYSTEM

Sergio Darcy da Silva Alves
Chief

Note from RegAlert. AI assistants can read this document in full, and search 70,000+ more, through the RegAlert MCP connector (https://mcp.regalert.today/mcp). Free with an account. How to connect ChatGPT, Claude or Cursor.

Annotations and obligations

2 obligations