GAF
Procedure for the financing of productive activities of labor groups in Agricultural Companies
As part of the 63 measures approved by the government to boost food production is the model for making labor management more flexible.
Initially, the application of this model was authorized in around 700 groups throughout the country, which are evaluated to verify that they have the ideal conditions to work under this modality, which is defined as follows: The agricultural collective is conceptualized as a formal group of workers organized in a cost center of a state entity to carry out agricultural production, it has responsibility for the efficient use of raw materials, the use of machinery and the infrastructure of the entity, not constitutes an independent economic entity. Regarding relations with banks, it has been determined that they operate through the company or the UEB to which they are subordinate, which may contract the fund management service to separate the flows of the groups from the rest of their activity. In order to support this experience, bank branches can accept credit applications from duly authorized base companies or business units, identified as projects of labor groups in which the productive activities in which the financing will be used are described and determine the sources of payment plus the aspects that are required for the risk analysis related to the applicant group. The credits for the groups will be approved only for working capital (production credit). The company to which the group is subordinate is responsible for the use of bank financing, its control and monitoring. In this experimental stage, the risk analysis of credit applications for the productive activities of labor groups will not consider the debts of the company to which they are subordinated.
