Circular No. 2641 — Authorizes the formation of consortium groups referenced in home appliances and electronics

CIRCULAR NO. 002641

Authorizes the formation of consortium groups referenced in home appliances and electronics.

The Board of Directors of the Central Bank of Brazil, in a session held on November 29, 1995, based on Article 33 of Law No. 8,177, of March 1, 1991,

D E C I D E D:

Article 1. To authorize the formation of consortium groups referenced in home appliances and electronics, observing the following:

I - the minimum duration of the group shall be 24 (twenty-four) months;

II - contemplation by bid is prohibited;

III - the value of the advance payment of installments by a non-contemplrated participant is limited to the equivalent of 10% (ten percent) of the value of the item subject to the contract.

Article 2. This Circular enters into force on the date of its publication.

Brasília, November 29, 1995

Cláudio Ness Mauch
Director of Norms and Organization of the
Financial System