On July 1, 2022, resolution number CD-SIBOIF-1317-1JUN14-2022 dated June 14, 2022 entered into force as of its publication in La Gaceta number 121; issued by the Board of Directors of the Superintendency of Banks and Other Financial Institutions, in order to authorize banks, finance companies, non-bank issuers of credit cards referred to in Law 515 “Law for the Promotion and Regulation of the Credit Card”, to the regulations that regulate them and to the insurance companies, to use a pre-printed or electronically printed signature of their legal representative or of the person previously authorized for that purpose, after complying with formal and control requirements. internal.

Said rule establishes among the internal controls of the use of the pre-printed or electronically printed signature, that the financial institution must implement the necessary security and control measures, to avoid possible falsifications or alterations, complying with the regulations that regulate the matter and that they refer to operational, technological, control, and audit risks, among others, all related to the industry in which they operate, and that once the procedures are established, they must be approved by the boards of directors of the financial institutions.

Similarly, the standard establishes the documents to which only the pre-printed or electronically printed signature applies:

a) Personal credit contracts in which no real guarantees are agreed, including operations with credit cards.

b) Contracts with bank accounts (savings and current.

c) Contracts for the opening of fixed term deposit certificates.

d) Compulsory motor vehicle civil liability insurance policies.

e) Compulsory civil liability insurance policies for motor vehicles with foreign registration.

f) Mass insurance and micro insurance operations referred to in the regulations governing these matters.

g) Insurance policies that have one hundred percent withholding or are under proportional (automatic) reinsurance contracts.

h) Proof of balances and settlements.

i) Bank account references.

j) Proof of delivery of credit or debit cards.

k) Tariff; and

l) Informative Summary of Active or Passive Operations.