Circular Letter N° 337 "Interest Charges Policy for Clients with Overdue Payments"

Circular Annex Date Reference Status Download
337 No 09.07.2021 Interest Charges Policy for Clients with Overdue Payments In effect No



Dear Participants,

As you have been made aware, Law No 21131, published on January 16, 2019, establishes that those pledgees that register debts of delinquent clients may apply interest on overdue payments and a fixed commission for payment recovery.

Depósito Central de Valores S.A. (DCV), and its subsidiaries DCV Registros S.A. and DCV Asesorías y Servicios S.A., based on what was agreed in their contracts, particularly the Deposit Contract and the Shareholders/Investors Registers Management Contract, are empowered to apply interest to the amounts owed for the payment of their services.

Through this circular, we communicate that under our "Interest Charges Policy for Clients with Overdue Payments," interest will be applied as of September 2021, under the following guidelines:

Delayed Payments Conditions

  • The debt of a client will be considered overdue 30 days after the issuance of the corresponding invoice. The payment overdue condition will be established for each document issued. The client can count their overdue documents and those that are not, without consolidating in those clients with more than one valid invoice in different conditions.

Interest Rate

  • The interest rate to be applied will correspond to the maximum interest rate that can be legally used for credit transactions in money, as agreed in the corresponding contracts.

Interest Charging Process

  • Interest will be calculated every month.
  • Interest will be charged to clients by issuing a document called "collection order."
  • The late days to be considered in the calculation of interest will correspond to the period between the day when the invoice becomes past due and the calculation date's month closing date. Due to this, the calculation of interest will include the entire overdue debt at the closing of each month. As per charging, the calculation will also include the number of past-due days between the close of each month and the effective payment date of the overdue invoices.
  • In those situations in which a document remains unpaid overtime, which implies the calculation of interest on the debt that was already subject to interest calculation; the calculation of the new interest will consider the overdue invoice and not the interest that have to be paid.


For more information,
please contact the Help Desk.

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