Circular Letter No. 3.007

CIRCULAR LETTER No. 003007 ------------------------ Discloses procedures and deadlines for issuing the Difference Settlement Document - DAD, within the scope of the Clearinghouse for Checks and Other Instruments - Compe. Based on the provisions of Circular 772, of 8 April 1983, we clarify that the Difference Settlement Document - DAD must be issued to settle a difference identified in an exchange or return session, whether nightly or daily, regardless of the amount to be settled, observing the following deadlines: I - up to 15 days, in the case of a difference communicated by means of a Difference Communication Document - DCD, counted from the date of communication; and II - up to 30 days, in the case of a difference not communicated by means of a DCD, counted from the date of the exchange or return session in which the difference occurred. 2. Any losses arising from differences identified in Compe must be subject to reimbursement by agreement between the parties, observing the remuneration limits in force in the market. 3. The Compe operator is authorized to define the procedures necessary to comply with the provisions of this circular letter. 4. This circular letter enters into force on the date of its publication, and Circular Letter 2.303, of 14 August 1992, is revoked. Brasília, 19 April 2002. Department of Banking Operations and Payment System Luis Gustavo da Matta Machado Head