O CERTIFICADO DE DIREITOS CREDITÓRIOS DO AGRONEGÓCIO (CDCA) COMO TÍTULO DE CRÉDITO APTO PARA FACILITAR O FINANCIAMENTO PRIVADO DO AGRONEGÓCIO

Abstract

The Certificate of Agribusiness Credit Rights (CDCA) was created by Law no. 11,076/2004, to serve as an instrument for private financing of agribusiness. The CDCA is a negotiable instrument issued exclusively by rural producer cooperatives and other economic agents that are part of the agro-industrial chain, conferring a legal pledge on the agribusiness credit rights linked to it as a guarantee by the issuer. These credit rights originate from business carried out between rural producers, or their cooperatives, and third parties, including financing or loans, related to the production, marketing, processing or industrialization of agricultural products or inputs or machinery and implements for agricultural activity. . Thus, the issuance of the CDCA results in a type of “internal securitization”, which allows the raising of funds from investors in the capital market, based on the guarantee offered by the value of the “receivables” linked to their payment. In this context, this article proposes to analyze the special characteristics of the CDCA, as a negotiable instrument of agribusiness, with the purpose of confirming or refuting the hypothesis that its legal discipline makes this title a relevant instrument for the circulation of wealth and for private financing of the agribusiness in Brazil. To this end, this work carries out research whose method is deductive and the type is documentary and bibliographic, through consultation of legal doctrine and scientific articles, in addition to a brief analysis of applicable legislation and regulation.