Given the end of the current program, which would expire on January 31 of the following year, the Ministry of Commerce resolved to extend the validity of the Now 12 program until June 30, 2023. It also incorporated the 4G technology cell phones to the list of products included in the benefit and modified the fees applicable to participating businesses and suppliers for the collection of operations.

The measure was ordered by resolution 144/2022, published today in the Official Gazette, with the purpose of “continue with the implementation of concrete actions aimed at continuing to strengthen the domestic market and expanding access to goods and services, through mechanisms that allow stimulating demand by granting financing facilities”.

The incorporation of 4G cell phones will be for transactions in 3, 6 and 12 installments, although the program contemplates 18 and 24 installment plans for other products.

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As for the interests applicable to suppliers and businesses, for sales made in three installments, they will charge within a period of up to 10 days with a maximum discount rate of 7.58% (before 7.06%) and for operations in 6 payments with a of 14.22% (before 13.3%).

For transactions in 12 installments, they may charge a maximum discount rate of 19.95% for 60 calendar days and 25.67% for 10 business days, instead of the current rates of 18.74% and 24.16%. respectively.

In the case of sales in 18 installments, they may collect within a period of 60 calendar days with a maximum discount rate of 30% (previously 28.35%) or within a period of up to 10 business days with a rate of 35, 09% (before 33.2%).

For operations in 24 installments, merchants and suppliers may choose between charging in 60 calendar days with a maximum discount rate of 38.35% (previously 36.43%) or within a period of up to 10 business days with a rate of 42.87% (before 40.78%).

In the recitals of the measure, it was recalled that in July of this year the list of goods and services that are marketed within the framework of the program was modified to “continue with the promotion, economic growth and development, encouraging productive investment and demand” and that through Resolution 57/2022 the “30-Instalment Plan Complementary Regulations” to promote financing in that term for 4k technology televisions equal to or greater than 50 inches, air conditioners with Inverter“, washing machines, refrigerators and cell phones with 4G technology.

Also, it was held that “The expected financing rate means a stimulus to boost sales of locally manufactured products and, therefore, it is convenient for both suppliers and businesses, as well as for consumers.”

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Source: Fedecom