2021 - YEAR OF TRIBUTE TO THE NOBEL PRIZE IN MEDICINE DR. CÉSAR MILSTEIN

CENTRAL BANK OF THE ARGENTINE REPUBLIC

COMMUNICATION “A” 7314
25/06/2021

TO FINANCIAL INSTITUTIONS,
TO OTHER NON-FINANCIAL CREDIT PROVIDERS,
TO ELECTRONIC CLEARING HOUSES,
TO AUTOMATED TELLER MACHINE NETWORK MANAGEMENT COMPANIES, TO FINANCIAL MARKET INFRASTRUCTURES:

Ref.: Circular
SINAP 1-131:
Central Registry of Electronic Credit Invoices Unpaid MiPyMEs at maturity (CenFIV). Its creation.

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We address you to inform you that this Institution adopted the following resolution:

“1. Incorporate, as point 3.5.7. of the operating rules on “National Payment System - Checks and other clearing instruments”, the particular aspects related to the creation of the Central Registry of Electronic Credit Invoices for MiPyMEs unpaid at maturity (CenFIV), in accordance with the provisions of the Annex attached to this communication.

2. Establish that the effective date of the provisions set forth in the preceding point will be informed when the corresponding reporting regime for the CenFIV is made known.”

We greet you attentively.

CENTRAL BANK OF THE ARGENTINE REPUBLIC

Luis A. D‘Orio
Principal Manager of Payment Systems and Current Accounts Julio César Pando Deputy General Manager of Means of Payment

ANNEX

B.C.R.A. NATIONAL PAYMENT SYSTEM
CHECKS AND OTHER CLEARING INSTRUMENTS
Annex to
Com. “A”
7314

3.5.7. Central Registry of Electronic Credit Invoices for MiPyMEs unpaid at maturity - CenFIV.

3.5.7.1. The information on Electronic Credit Invoices for MiPyMEs entered into the SCA will be displayed in the CenFIV in accordance with the provisions of point 3.5.7.4.

3.5.7.2. The financial institution where the collection account informed by the creditor of the invoice is domiciled must report the information required for the purposes established in the preceding point, in accordance with the reporting regime established for that purpose.

3.5.7.3. The information to be reported to the CenFIV will be the following:

i) Invoices cleared, in pesos or US dollars.

ii) Invoices unpaid for any of the following reasons:

a) Lack of sufficient available funds in the payment account.

b) Lack of information on the payment account.

c) Other reasons, such as account holder disqualified, closed account, bankruptcy and judicial attachment.

iii) Exclusions. Invoices not entered into clearing for any of the following reasons will not be included:

a) Not having declared a collection account.

b) Having been paid prior to its maturity outside the SCA.

c) Having been issued in a currency that does not allow its clearing in the SCA.

3.5.7.4. The data to be published in the CenFIV will be displayed in aggregate form, by CUIT of the debtor companies according to the following:

i) Negotiation channel used.

ii) Total invoices entered into clearing: it is the sum of invoices that at the maturity date had not been paid in advance and have at least the collection account registered, in the period considered.

iii) Percentage of invoices unpaid at maturity: it is the quotient between the sum of the invoices entered into clearing that had not been paid at maturity and the total invoices entered in accordance with point ii., expressed as a percentage, in the period considered.

iv) Percentage of invoices settled after the deadline: it is the quotient between the sum of invoices that have been paid after their

clearing and the total unpaid invoices, expressed as a per- centage, in the period considered.

v) Average days of delay: it is the quotient between the sum of the number of days of arrears of all reported unpaid invoices and the total number of unpaid invoices, in the period considered.

vi) Average amount of unpaid invoices: it is the quotient of the sum of the amounts owed of all unpaid invoices and the total number of unpaid invoices, in the period considered.

vii) In all cases where possible, the information will be expressed in quantity and amount.

viii) The amounts of invoices issued in US dollars will be expressed in pesos at the official exchange rate of the day of maturity, established in accordance with Communication “A” 3500 and its amendments or supplements.

ix) The indices will be calculated and published in accordance with the above and the complementary definitions made by the Deputy General Management of Reporting Regime and Protection of Users of Financial Services.

3.5.7.5. Access to information, updating and rectification of data:

i) The SCA administrator shall make available through the entities a query by invoice status, which allows the party obligated to pay to access, through its entity, the details of paid and unpaid invoices.

ii) The party obligated to pay may request the details of the FCEM with which the information published in the CenFIV about it is made up, through the financial entity with which the company usually operates.

iii) In the event of a discrepancy, the obligated party must seek the registration of the cancellation of the FCEM in the SCA, obtaining confirmation from the MiPyME or creditor of the invoice in the manner provided for that purpose. The rectified information shall be sent to the CenFIV by the financial entity that the MiPyME or the creditor had reported in the CBU for collection.

iv) When the debtor company proves that it has given notice to regularize, specifying the circumstances that warrant it, and five calendar days have elapsed since such notice, it may request the blocking of the invoice reported as unpaid, through the financial entity through which it usually operates. The financial entity shall transmit the objection to the CenFIV by the means to be established for that purpose, and must keep the request and the evidence on which it is based at the disposal of the BCRA.

v) Invoices objected to within the framework of the provisions of the preceding point shall be excluded from the information published in the CenFIV.

3.5.7.6. In the access to consult the CenFIV, it must be recorded that the information provided is for statistical purposes only and reflects

BANCO CENTRAL
DE LA REPÚBLICA ARGENTINA

the data provided by the entities participating in the Open Circulation System, which are therefore responsible for it, and that the rights of access to such data, their updating, rectification or deletion, must be exercised in accordance with the provisions of the preceding points.