Circular No. 2.558

CIRCULAR N. 002558 ------------------ Governs the clearing of checks with a discrepancy between the amount expressed in figures and in words. The Board of Directors of the Central Bank of Brazil, in a session held on 19.04.95, based on art. 11, item VI, of Law No. 4.595, of 31.12.64, and in view of the provisions of art. 12 of Law No. 7.357, of 02.09.85, D E C I D E D: Art. 1 The return of a check due to a discrepancy between the amount expressed in figures and in words is prohibited in the Check and Other Instruments Clearing Service. Sole paragraph. Any difference verified in the clearing movement, as a consequence of the processing of the check referred to in this article for the amount expressed in figures, may be regularized by means of a Difference Adjustment Document (DAD), issued within: I - up to 15 (fifteen) days, in the case of a difference communicated by a Difference Communication Document (DCD), counted from the date of its delivery. II - up to 60 (sixty) days, in the case of a difference not communicated by DCD, counted from the date of the movement in which the difference occurred. Art. 2 This Circular enters into force on the date of its publication. Art. 3 Item II of art. 1 of Circular No. 1.994, of 25.07.91, is revoked. Brasília, 20 April 1995 Alkimar Ribeiro Moura Director of Monetary Policy