Post by account_disabled on Mar 11, 2024 3:50:10 GMT
Discount fees charged by card companies constitute interest. This is the understanding of the rd Panel of the Superior Court of Justice, in an action that questioned the value of the advance fee for credits related to card sales. Redecard claimed that the discount rate is not interest. It didn't help. The Class understood otherwise. The STJ confirmed the decision of the Court of Justice of Rio Grande do Sul.
The case's rapporteur, Sidnei Beneti, stated that interest is the price paid for the capital made available to the debtor for a determined period of time, or, citing doctrine, “the consideration that someone pays for the temporary use of someone else's capital”.
In other words, interest is “the price of money”, and serves Austria Phone Numbers List to compensate or indemnify the party that makes the capital available to the other. In this way, the “discount rate” for advance credit, which varied between % and % and was combined with the administration fee, corresponds to interest on capital advances, a form of compensatory interest, affecting the limitation of % per month provided for in the Usury Law.
Sidnei Beneti confirmed the understanding of the Court of Justice of Rio Grande do Sul that Redecard is not a financial institution nor a credit card administrator — the role of the company Credicard — and is only responsible for accrediting commercial establishments to accept the card and administration of payments to them for sales made through this means.
The Panel rejected, however, another plea from the Rio Grande do Sul TJ, which did not change the outcome of the trial. The Court of Justice considered that the relationship between Redecard and SCA Comércio de Combustíveis Ltda. is equivalent to the consumer relationship, as provided in article of the Consumer Protection Code.
But the rapporteur clarified that the understanding contradicts the jurisprudence of the nd Section of the STJ, which adopts the finalist criterion for characterizing this type of relationship. That is, to be considered a consumer, the party must be the final economic recipient of the acquired good or service, which is not the case in this case, as the contract serves as an instrument to facilitate the establishment's commercial activities. With information from the STJ Press Office.
The case's rapporteur, Sidnei Beneti, stated that interest is the price paid for the capital made available to the debtor for a determined period of time, or, citing doctrine, “the consideration that someone pays for the temporary use of someone else's capital”.
In other words, interest is “the price of money”, and serves Austria Phone Numbers List to compensate or indemnify the party that makes the capital available to the other. In this way, the “discount rate” for advance credit, which varied between % and % and was combined with the administration fee, corresponds to interest on capital advances, a form of compensatory interest, affecting the limitation of % per month provided for in the Usury Law.
Sidnei Beneti confirmed the understanding of the Court of Justice of Rio Grande do Sul that Redecard is not a financial institution nor a credit card administrator — the role of the company Credicard — and is only responsible for accrediting commercial establishments to accept the card and administration of payments to them for sales made through this means.
The Panel rejected, however, another plea from the Rio Grande do Sul TJ, which did not change the outcome of the trial. The Court of Justice considered that the relationship between Redecard and SCA Comércio de Combustíveis Ltda. is equivalent to the consumer relationship, as provided in article of the Consumer Protection Code.
But the rapporteur clarified that the understanding contradicts the jurisprudence of the nd Section of the STJ, which adopts the finalist criterion for characterizing this type of relationship. That is, to be considered a consumer, the party must be the final economic recipient of the acquired good or service, which is not the case in this case, as the contract serves as an instrument to facilitate the establishment's commercial activities. With information from the STJ Press Office.