Circular No. 2716 — Regulates bidding contemplation and advance payments in consortium groups

CIRCULAR NO. 002716

Regulates bidding contemplation and advance payments in consortium groups.

The Executive Board of the Central Bank of Brazil, in a session held on 28.08.96, based on Article 33 of Law No. 8.177, of 01.03.91,

DECIDED:

Art. 1st To allow bidding contemplation in consortium groups referenced in movable goods, real estate, and air tickets, observing the following:

I - bidding contemplation can only occur after lottery contemplation or if this is not carried out due to insufficient resources;

II - the criteria for offering and breaking ties in bids must be defined in the adhesion contract.

Art. 2nd The advance payment of installments due and their respective criteria, by contemplated or non-contemplated consortium members, are subject to the decision of the group's general assembly.

Sole Paragraph. The non-contemplated consortium member who pays in advance the installments provided for in the contract will only compete for lottery contemplation.

Art. 3rd The delivery of the order for the supply of the good, and the corresponding payment, is prohibited before the exercise of the option right by the contemplated consortium member in accordance with the regulations in force, including for groups already constituted.

Art. 4th The provisions of Articles 1st and 2nd may be applied to groups already constituted, by decision of the general assembly.

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

Art. 6th Paragraphs 1st and 2nd of Article 13, Article 14, item IV and paragraph 1st of Article 38, and Article 74 of the Regulation annexed to Circular No. 2.196, of 30.06.92, items I and II of Article 12 and Article 13 of the Regulation annexed to Circular No. 2.312, of 26.05.93, paragraph 1st of Article 12, Article 13, Article 15, and item IV and paragraph 1st of Article 39 of the Regulation annexed to Circular No. 2.386, of 02.12.93, Articles 4th and 5th of Circular No. 2.627, of 05.10.95, items II and III of Article 1st of Circular No. 2.641, of 29.11.95, and Article 3rd of Circular No. 2.659, of 07.02.96, are repealed.

Brasília, August 28, 1996

Alkimar Ribeiro Moura
Director