Circular No. 970 — Credit Transfer Service in General — Transfer by Means of Credit Document (DOC) — Reevaluation

CIRCULAR NO. 000970

We communicate that the Board of Directors of the Central Bank established, in a session on June 12, 1985, the following rules that will henceforth govern the Credit Transfer Service in General, carried out by means of the Credit Document - DOC:

a) any payment obligations between individuals and/or legal entities holding bank accounts, including municipal, state, or federal taxes, levies, and fees, and/or payments in favor of companies concessionaires of public services, as well as fund transfers in general, may be settled using this service;

b) the Credit Document - Models A, B, and C - may only circulate through the Check and Other Papers Clearing Service if it is strictly prepared in accordance with the standardized models, whose implementation must begin on January 2, 1986, in order to exhaust the stocks of the currently used models;

c) the clearing of the Credit Document shall be carried out in accordance with the rules of the Check and Other Papers Clearing Service;

d) subject to the requirements regarding standardization, the specific rules for Credit Transfer in General, and provided it is made in cash, the commercial bank may not refuse the receipt of the DOC;

e) the clearing cards referring to Models A and B of the Credit Document may be sent to the Check and Other Papers Clearing Service by the next business day following their acceptance, and the accounting of these documents must be made, on the day of acceptance, in account 4.09.20.00.9 - DIVERSIFIED CREDITORS - COUNTRY, of COBAN, in a specific subtitle;

f) the accepting bank is prohibited from charging any tariff for the provision of the service of accepting Models A and B;

g) the clearing cards referring to Model C must be sent to the Check and Other Papers Clearing Service on the same day they are accepted;

h) the charging of a tariff, at the discretion of the sending bank, is admitted at the time of acceptance of the DOC - Model C.

2. This Circular will enter into force within a period of 30 days, counted from the date of its publication, except as provided in item "b" above.

Brasilia-DF, November 21, 1985

Carlos Thadeu de Freitas Gomes
Director