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The business law resource for Latin America
Select specific jurisdictions to filter on. Alternatively select no jurisdictions and select questions below to see all jurisdiction answers for them.
Select specific questions to filter on. Alternatively select no questions and select jurisdictions above to see all question answers for them.
What are the most common forms of bank financing in your jurisdiction?
Are any governmental or central bank registrations or approvals required for a foreign lender (being a lender not incorporated in your jurisdiction or operating through a branch or office outside of your jurisdiction) to lend to a borrower in your jurisdiction?
Are there any foreign exchange provisions restricting, or governmental or central bank registrations or approvals required for, a borrower in your jurisdiction to contract debt obligations in a foreign currency or to remit funds abroad?
Are there any governmental or central bank registrations or approvals required for the prepayment of loans abroad?
Are any mandatory governmental or central bank deposits required to be made from loan proceeds?
Describe any governmental measures that may be taken to declare a moratorium on the loan obligations of private companies.
Describe any environmental liabilities and any other areas of lender liability that may arise as a result of the activities of a borrower or the realisation of a security interest.
Are interest payments or loan fees subject to a withholding tax?
What other taxes or mandatory fees, for example, transaction, registration or documentary, apply to loan transactions?
Are there different taxes applicable to loans repayable to lenders in your jurisdiction and loans repayable to lenders in a foreign jurisdiction?
Is your country party to any double taxation treaties that reduce taxes payable by borrowers in respect of loan payments abroad?
Do any financing structures receive favourable tax treatment, such as prepayments of exports?
Describe any limitations on interest rates or the ability of lenders to charge default interest under loan agreements.
Describe any restrictions that may apply to the choice of law, for example, whether a choice of New York or English law will be recognised and enforced in your jurisdiction.
Describe generally the requirements for the enforceability of a foreign judgment in your jurisdiction in respect of an outstanding loan.
Upon the closing of a loan, what procedural requirements (execution formalities, notarisation, registration, recordation or filing) should be observed to ensure that a loan agreement or related judgment is enforceable in your jurisdiction?
Does a loan agreement in English need to be translated or locally registered to be enforceable in your jurisdiction?
Must a foreign bank be registered in your jurisdiction to enforce any rights under the applicable loan documentation?
Are foreign lenders treated any differently than local lenders in enforcing loan documentation in the courts of your jurisdiction?
Is consideration required for the enforceability of a contractual obligation or guarantee?
To enforce a loan in your jurisdiction, need the loan be evidenced by a promissory note or other form of título executivo?
To enforce a guarantee (aval) in your jurisdiction, is it necessary that the guarantee be evidenced by a guarantee agreement or other form of título executivo?
Are there any restrictions on loans to multiple borrowers or on a guarantee in respect of a loan to an affiliated entity?
Can a party grant a secured or unsecured guarantee in respect of a loan to an unaffiliated third party?
Is there a distinction between the granting of a security interest and the perfection of a security interest?
What is the most common form of granting and perfecting a security interest in moveable assets?
What is the most common form of granting and perfecting a security interest in real estate?
What is the most common form of granting and perfecting a security interest in receivables and accounts?
Does your jurisdiction recognise the transfer of assets to a trust for the benefit of a lender as a means of granting a security interest in such assets?
Does your jurisdiction recognise the fiduciary transfer of assets (such as an alienação fiduciária) to a lender as a means of granting a security interest in such assets?
Are there any types of asset that cannot be pledged as collateral under the laws of your jurisdiction?
Describe any restrictions on enforcement of security. For example, any statutory regime that may stay the enforcement of the security or provide that enforcement is limited to public sale through the courts.
Describe any other relevant legal considerations in connection with loans to a borrower in your jurisdiction.
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