Consórcio
A Brazilian group savings/purchase system: members pay monthly into a common fund and each month one or more are awarded the credit to buy a good. No bank interest — only an administration fee.
Consórcio & carta contemplada glossary
The Brazilian consortium terms explained in plain English — so you know exactly what you are buying.
Carta contemplada
A consortium share whose credit has already been awarded (by draw or bid). The buyer uses the credit without waiting in the group's queue.
Ágio
The amount paid to the current holder for the advantage of an already-awarded credit. It is part of the entry payment.
Contemplação
The moment a member gains the right to use the credit — by draw (sorteio) or by winning a bid (lance).
Lance
A bid (advance of installments) to try to be awarded. As a rule, the bid is only paid if it wins.
Cessão
The official transfer of a share from one holder to another, done by the administrator and subject to analysis and approval.
Taxa de administração
The administrator's fee for running the group — the consortium's main cost, generally lower than the interest on a loan.
Reajuste
The annual update of the credit and installments by a contract index. It is not interest — it tracks the value of the good.
Saldo devedor
The outstanding balance still owed on the share. With a carta contemplada, the buyer takes over this balance on top of the ágio.
Administradora
The company authorised by the Central Bank that runs consortium groups (Caixa, Itaú, Porto Seguro, etc.). Liberty Carta is not an administrator.
RNE / CRNM
A foreigner's registration document in Brazil, accepted by several administrators for buying a carta contemplada.