1. What is the Registry of Unpaid Acceptances (RAI)?
The Registry of Unpaid Acceptances (RAI) is a database that records defaults on financial obligations.
This database is managed by the Center for Interbank Cooperation, and its purpose is to provide economic agents with information about the payment delinquency and creditworthiness of the companies listed.
In times of economic crisis, the risk of being listed in this delinquency database increases significantly, as a lack of liquidity in your company can result in an RAI entry.
In addition, this registry is increasingly consulted to assess the financial standing of your customers and, consequently, to limit potential risks of non-payment. So, are you ready to learn more about the RAI?
The Registry of Unpaid Acceptances (RAI) compiles a list of unpaid obligations by legal entities.
It therefore affects all types of companies, associations, and businesses, from SMEs to multinationals.
As we’ve already mentioned, it is managed by the Center for Interbank Cooperation.
It is a nonprofit professional association with its own assets, separate from those of its members.
Its purpose is:
– To serve as a forum for dialogue
– To promote the activities of its members.
2. How is the RAI managed and organized?
Before adding a debtor legal entity to the Registry of Unpaid Acceptances, the RAI considers two issues:
1. The minimum amount required for registration is 300 euros. Amounts below this threshold are not recorded in this registry.
2. Signed documents in which the debtor acknowledges a payment obligation are considered acceptance of payment. The debt must arise from business financing instruments such as: bank promissory notes, checking account checks, and bills of exchange.
3. How does this registry work?
Thanks to collaboration among conventional financial institutions (banks, savings banks, rural credit unions, credit cooperatives, etc.), the operation of this database is very straightforward. In fact, it is these organizations that report the data to the RAI.
The debtor has 90 days to settle their payment obligation. If they fail to do so within that period, they are added to the registry.
Inevitably, being listed on the registry significantly limits your ability to obtain financing for your business.
In fact, the very institutions that participate in the RAI consult it and take it into serious consideration before granting any type of financing.
For example, this factor is always taken into account when granting a mortgage loan.
It stands to reason that if you appear in the Registry of Unpaid Debts, it will be very difficult for lenders to trust your project and grant you financing.
4. How to Find Out If a Company Is Listed in the RAI
In reality, any individual or legal entity can access this information.
However, they must prove that they are creditors of a monetary loan or entities specializing in creditworthiness and credit risk reports.
The procedure is quite simple: you must be registered on the Unpaid Acceptances Registry’s website and have subscribed to the service. Obviously, this involves signing the agreement and paying the required fee.
Once you’ve registered, there are several ways to make inquiries:
– Log in to the website using your user account.
– Call 902 103 406.
– Send an email to helpdesk@ficherorai.com.
– Visit the physical office located at Calle Príncipe de Vergara 132, 1st Floor, 28002 Madrid.
You may only access the information for the following purposes:
– To find out if a third party is registered in the system.
– To find out if your company or business is listed.
5. Is it possible to be removed from this registry?
There are two ways to do this:
1. Pay the debt. This is the definitive solution. Once the debt is paid, request that the creditor remove you from the registry. Having the payment receipt on hand will significantly speed up this process. Alternatively, you can also contact the administrators of this registry and submit documentation proving payment. This second option is usually faster.
2. Wait 30 months. After this period, the information expires.
As you’ve seen, understanding and managing your listing in the Registry of Unpaid Bills will help you improve your credit rating, making it easier for you to secure financing.
Furthermore, it will allow you to understand your customers’ payment status and limit your risk of non-payment.
At WorkCapital, we want to help ensure you don’t appear in this database.
To do so, we offer our promissory note discounting and invoice advance services to improve your cash flow and prevent non-payments.
