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Financing Program for the Acquisition of School Transportation Vehicles - PROESCOLAR
Purpose

Renew and broaden the fleet of school transportation vehicles destined to the daily transportation of basic level of education students (pre-school, elementary school, middle school and high school), through exclusive financing of Accredited Financial Institutions.



Clients

companies with headquarters and administration in the country that carry out basic level of education activities (pre-school, elementary, middle school and high school), in-class, or that perform school transportation activities;

direct or indirect public administration, under the federal, state and local spheres and of the Federal District;

individuals, residents and domiciled in the country, who exert the school transportation activity duly registered in the National Registration of Habilitated Drivers - RENACH.

For the individual beneficiaries, it will only be permitted the support for the acquisition of one vehicle. A new financing will only be granted after the full payment of the previous operation. The requester may not keep corporate or employment entailment with the transportation company or family entailment with the owners of such companies.



Financeable Items

Vehicles for new school highway transportation, with national manufacturing, accredited by BNDES, as listed below:

44-passenger bus; 
31-passenger bus; and 
23-passenger bus. 

It will only be financeable the acquisition of vehicles that meet the following requirements:

For school bus transportation for rural area use: specifications of Resolution no. 7, dated 02.21.2008, of Conselho Deliberativo do Fundo Nacional de Desenvolvimento da Educação [Deliberative Council of the National Education Development Fund] - FNDE/MEC and others that may amend it or substitute it; 

For school bus transportation for urban area use: specifications of Resolution no. 6, dated 02.07.2008, of Conselho Deliberativo do Fundo Nacional de Desenvolvimento da Educação - FNDE/MEC and other that may amend it or substitute it;

Determinations as to school transportation provided through Law no. 9.503, dated 09/23/2007 - National Traffic Code, as well as through legislation and regulation in effect for the State and Municipality in which the activity is being practiced; and 

Determinations as to the accessibility of ABNT NBR Rule 14022/2006, of Associação Brasileira de Normas Técnicas [Brazilian Technical Standards Association] - ABNT.

BNDES upon accrediting the product checks only the productive process of the manufacturer. Thus, the product's accreditation at BNDES does not generate to the institution any responsibility for problems related to the quality and/or technical operational performance of the good in question.



Interest Rate

Financial Cost + BNDES Fee + Financial Intermediation Rate + Accredited Financial Institution Fee 

Financial Cost: Long-Term Interest Rate - TJLP 
BNDES Fee: 1% per year

Financial Intermediation Rate: 0.8% per year. Operations with Micro, Small and Medium-size Companies are exempt from the Financial Intermediation Rate.

Accredited Financial Institution Fee: Negotiated between the accredited financial institution and the client.



Share Level

Up to 100%



Maturity

Up to 72 months, including the grace period of up to 6 months.

Amortizations are monthly. During the grace period the interests are paid quarterly. In the amortization phase, the interests will be paid monthly conjointly with the amortization installments.



Collaterals

Negotiated between the accredited financial institution and the client.

See: Guarantees



Addressing

Go to the Accredited Financial Institution with the technical specification (budget or technical-commercial proposal) of the good to be financed. The institution will inform the necessary documentation, will analyze the credit granting possibility and will negotiate the guarantees. After the approval by the institution, the operation will be sent for homologation and subsequent release of resources by BNDES.



Effectiveness

The hired financing requests may be assisted until 12/31/2009, observing the budgetary limit established for the Program.







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