1. What is the Register of Unpaid Acceptances (RAI)?
El Register of Unpaid Acceptances (RAI) It is a file that records the breach of monetary obligations.
This database is promoted by the Center for Interbank Cooperation and its objective is to provide information to economic agents about delinquency and payment reliability of the companies consulted.
In times of economic crisis, the risk of appearing in this delinquency file increases considerably, since a lack of liquidity in your company can cause a RAI note.
In addition, with greater recurrence this registry is consulted to know the situation of your clients and, consequently, limit possible risks of default. So are you ready to get familiar with the RAI?
The Registry of Unpaid Acceptances or RAI contains a list of the non-payments made by legal entities.
Therefore, it affects all types of companies, associations and businesses, from SMEs to multinationals.
As we have already mentioned, its promoter is the Interbank Cooperation Center.
It is a non-profit professional association with its own assets apart from that of its associates.
Its purpose is:
– Serve as a forum for dialogue
– Promote the activity of its associates.
2. How is the RAI managed and organized?
El Record of Unpaid Acceptances, before including a debtor legal entity, considers two questions:
1. The minimum amount to be registered is $300. Below that amount, they are not recorded in this registry.
2. Payment acceptances are considered to be signed documents in which the debtor acknowledges a payment obligation. The debt must come from resources of business financing such as: bank promissory notes, current account checks and bills of exchange.
3. How does this registry work?
Thanks to the collaboration between conventional financial entities (banks, savings banks, rural banks, credit cooperatives...) the operation of this database is very basic. In fact, it is these organizations that report the data to the RAI.
The debtor has 90 days to resolve your commitment to pay. If it does not do so within that period, it remains incorporated into the file.
Inevitably, appearing listed considerably limits the possibility of obtaining financing for your business.
In fact, the same entities that participate in the RAI consult it and take it into account before granting any type of financing.
For example, when guaranteeing a mortgage loan, this aspect is always considered.
It is logical to think that if you appear in that Record of Unpaid Acceptances, it will be very complex for them to trust your project and to grant you the financing.
4. How to know if a company is included in the RAI
In reality, any natural or legal person can access this information.
Of course, they have to demonstrate that they are creditors of a monetary loan or entities specialized in solvency and credit risk reports.
The procedure is quite simple, you have to be registered on the website of the Registry of Unpaid Acceptances and have contracted the service. Obviously, this involves signing the acceptance and paying the required cost.
Once you have registered, you have at your disposal different ways to make your inquiries:
– Access in the websites using your user account.
– Call by phone at 902 103 406.
– Send an email to helpdesk@ficherorai.com.
– Go to the physical headquarters, located at Calle Príncipe de Vergara 132, 1ª, 28002 Madrid.
You can only access the information for the following purposes:
– Know if a third party is registered in it.
– Know if your company or business is included.
5. Is it possible to exit this registry?
There are two alternatives to achieve this:
1. Pay off the debt. It is the definitive solution. Once the debt is paid, request that you be discharged from the creditor institution. With the proof of payment in your possession, you will considerably speed up this process. Alternatively, you can also contact those responsible for this registry and present them with the documentation proving the payment. This second option is usually faster.
2. Wait 30 months. After this period, the information expires.
As you have been able to verify, know and manage your presence in the Registry of Unpaid Acceptances will help you improve your credit rating by facilitating the possibility of financing.
On the other hand, it will allow you to know the situation of your clients and limit your risk of non-payment.
At WorkCapital, we want to help you so that you do not appear in this database.
To do this, we put at your disposal our promissory note discount services and invoice advances to improve your treasury situation and avoid defaults.
