Circular No. 2535 — Establishes Procedures for the Accounting Recording of Receipts and Payments on Behalf of Third Parties

CIRCULAR NO. 002535

Establishes procedures for the accounting recording of receipts and payments on behalf of third parties.

The Board of Directors of the Central Bank of Brazil, in a session held on 18.01.95, based on Article 4, item XII, of Law No. 4.595, of 31.12.64, by competence delegated by the National Monetary Council, by act of 19.07.78,

DECIDED:

Article 1. Establish that values related to receipts on behalf of third parties must be recorded, depending on the branch holding the current deposit account of the beneficiary, under the accounting title DEPOSITOS VINCULADOS, code 4.1.1.85.00-1, of the Accounting Plan of the Institutions of the National Financial System - COSIF, for the period of time during which such resources are unavailable for movement by the holder, by force of agreement.

Sole Paragraph 1. Values related to receipts on behalf of third parties who are not holders of current accounts must be recorded in the branch responsible for payment or transfer to the beneficiary for the period of time during which such resources are unavailable, by force of the agreement, under the accounting title DEPOSITOS VINCULADOS.

Sole Paragraph 2. Eventual receipts not characterized under the terms of the caput of this article must be recorded, on the same date, directly in the current account of the favored party, in the breakdown of the subgroup DEPOSITOS A VISTA, code 4.1.1.00.00-0, of COSIF.

Article 2. Funds placed at the disposal of the institution by current account holders to, under the terms of a specific agreement, make payments on their behalf, must be recorded under the accounting title DEPOSITOS VINCULADOS, until the execution of the order.

Sole Paragraph. In the case where settlement is finalized in another branch, the transfer must be made in counterpart to the accounting title ORDENS DE PAGAMENTO, code 4.5.1.40.00-4, of COSIF.

Article 3. Credit notices resulting from the collection of bills, receipt of installment plans, consortia, invoices from public service concessionaires, interdependent entries, and other similar items, must be recorded in the beneficiary's current account or matched on the day of their receipt.

Article 4. Change, in COSIF, the nomenclature of the accounting title OBRIGACOES POR CONVÊNIOS, code 4.9.9.25.00-5, to OBRIGACOES POR CONVÊNIOS OFICIAIS.

Article 5. This Circular enters into force on the date of its publication.

Brasília, January 19, 1995

Alkimar Ribeiro Moura
Director of Norms and Organization of the Financial System, in exercise