Financial Risks & Payment Mechanisms Explained
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Actions for Check Default
Non-payment of a check must be accredited by one of the following methods:
- By notarial protest.
- By a statement from the drawee.
- By a dated statement from a clearing or compensation system.
Understanding Credit Risk Databases
Key sources of risk information in Spain include the Risk Information Central Bank of Spain (CIRBE) and Asnef-Equifax.
Risk Information Central Bank of Spain (CIRBE)
CIRBE is a public service managed by the Bank of Spain. It maintains an extensive database of credit risk information, including loans, credits, and guarantees, that financial institutions hold with their customers. This allows any lender to ascertain the total debt their customers have with other institutions.
Asnef-Equifax
Asnef-Equifax compiles... Continue reading "Financial Risks & Payment Mechanisms Explained" »