In February 2021, Amazon introduced mandatory changes based on the Brazilian Central Bank regulation (Circular 3.952/19).
Being a Selling Partner on Amazon.com.br, you will now be able to share your credit card receivables with financial and non-financial institutions and have access to an expedited and more accurate lending offers from them, using such receivables as collateral. You will always be able to use receivables from one of your credit card networks as a collateral: Visa, MasterCard, American Express and Elo. Transactions will be handled directly between you and your preferred institution. Amazon will be informed on the amount of your transaction and will automatically schedule the disbursements of your receivables that were part of the transaction to the financial or non-financial institution. In case you already have ongoing operations with financial or non-financial institutions, and opt to use receivables from Amazon as collateral, Amazon will automatically disburse such funds used as collaterals on the financial or non-financial institution account, based on the information we receive from them through the trade repositories. In this case, we recommend you to reach out to your financial or non-financial institution for additional information.
From now on Amazon will be sharing your Sales Data with CERC (a trade repository authorized by Brazilian Central Bank). However, if you want financial or non-financial institutions to have access to it, you have to contact them, consent access to your data and require them to opt-in on your behalf. In case you no longer want your data to be shared with those institutions, you can revoke this access by requesting them to opt-out.
Each payment group will continue to have its own individual settlement cycle and deposit, independent from the rest. You can either use an individual card network amount as collateral or your total volume combined. To verify your sales balance from each payment group, you can access each one of the groups on the Seller Central page available on Reports > Payments. As part of this new regulation, you will no longer be able to request payment on demand through Amazon.
On Seller Central's homepage, you will still see a box that shows your total balance with a link to your Payments Dashboard. This part of the page will still show your total amount to be received divided by Card Networks and in case you have amounts used as collateral for your lending operations with your financial or non-financial institutions, this will always be deducted from your Net Proceeds and you will be able to see the exact amount deducted as part of Expenses > Others. The Lender Disbursement amount will also be visible to you on Transaction View.
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You have to consent (opt-in) or revoke (opt-out) to share your data directly with your financial or non-financial institution. If you decide to take up on a loan with them based on your future receivables, you will engage directly with them and Amazon will be informed on the amount of your loan to automatically schedule the future disbursements directly to your preferred institution.
If you revoke the consent for data sharing with a financial or non-financial institution which you have active contracts with, this institution will not have access to your future receivables information anymore. It does not mean that your debts with that institution will be lifted off. Instead, they will be able to continue debt the receivables from your account normally. However if the nature of the contract relies on them having access to your information, this could cause a cessation of the contract and a default process to be put in place by the institution against you, therefore ending in a possible litigation. Amazon suggests for you to always check with the financial or non-financial institution that you have agreements with, to see if they will require access to your information even after a contract is negotiated.
It will depend on the agreement you have with the institution. In case you have secured a lending transaction using your Amazon receivables and agreed disburse such receivables directly to them, then you may have all future receivables volume from a specific network which you have negotiated, sent directly for the lender domicile bank.
No, in case you have closed a financial transaction with a financial institution, Amazon will be informed in D+1 by the Trade Repository and will automatically schedule the lender disbursements accordingly. In case you close a transaction with a non-financial institution involving your receivables, you will have to inform Amazon about it (except in case the non-financial institution informs Amazon directly).
If you do not recognize that contract or if it is not in line with the negotiation done, we recommend you to first engage with your financial or non-financial institution. If they are not able to help, you can reach out to Seller Support for additional information or request a dispute – which is a mechanism provided by the trade repositories to allow you to open a request for contract cancellation or review due to disagreement with terms or incorrect information. Amazon will submit the dispute on your behalf in up to 2 days and the financial institution will have the same prompt to respond it, Amazon Seller Support will intermediate this communication and will update you with the financial institution response.
No, the disbursements will reflect the information received from the Trade Repository. Even with any active disputes in place Amazon must follow the information for disbursement for domicile bank provided by the Trade Repository. This process is handled directly by the Trade Repositories, financial or non-financial institutions. Amazon will only receive notification of change on the bank account based on contract updates (either removing or maintaining the active contract).
Funds will be held the way they are currently being held as per reserve policy, meaning that all retentions due to Seller risk and fulfillment and delivery process will continue as is today, but will need to be informed to Trade Repositories as a future receivable volume aka technical reserve (as per Trade Repository semantics).
This regulation does not impact Sellers located outside of Brazil or Sellers who do not receive BRL currency, meaning that Sellers without a local entity, or those who do not sell on Amazon.com.br, will not have their receivables information shared with Trade Repositories.
Given current limitations on the regulatory environment, at first, you will not be affected by this regulation. Amazon will only include you as part of this regulation once we are able to provide you an experience that will not impact you operation.
No, your account will need to remain opened with Amazon until all your obligations under financial transactions are completed.