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The Council of Brotherhoods of Seville already has a plan to return the money for the Easter chairs

The Council of Brotherhoods of Seville already has a plan to return the money for the Easter chairs

The Council of Brotherhoods of Seville already has a plan to return the money for the Easter chairs

The brotherhoods give up the second installment of the grant, just over 40% of the total amount. And the Council, with the essential supp...
Comments Sunday, May 10, 2020
The Council of Brotherhoods of Seville already has a plan to return the money for the Easter chairs

The brotherhoods give up the second installment of the grant, just over 40% of the total amount. And the Council, with the essential support of a financial institution, will be able to face the claims that they already demand and that will demand in the future the return of the amount of the chairs and boxes for Easter 2020, which was known the suspension of the processions 23 days before their beginning. This repayment plan involves contracting a type of loan known as confirming, which has been negotiated with a financial institution highly specialized in this tool and with which the Council maintains a very fluid relationship.

The president of the Council, Francisco Vélez, has met by videoconference with the older brothers of each day, which he continues without providing the details of the plan. For your information, refer to the assembly called at the Real Alcázar in late May. And if an older brother wishes to attend that session with the information already worked on, he must telephone the institution's treasurer, Alejandro Marchena, as the president communicates when some older brothers request details of an important economic operation for which he does not offer or name.

This newspaper has been able to know that, indeed, the brotherhoods are waiving the second installment of the grant. Although, at least, they will not have to return the first, around 55% of the total that was paid in advance before Easter.

The Council has already received some 1,200 requests for refund of subscriptions. The entity Facua has received about 200. It is expected that the number will skyrocket as soon as the repayment plan is approved at the Alcázar assembly. It must be remembered that each holder is usually more than one chair, and that the holder of a box is six seats. In the official race there are 33,000 locations, but the subscribers are far fewer. To obtain the refund, it will be essential to send the request in writing, since the Council does not have the bank account number of most of the subscribers. A form prepared for this purpose has already been published on the website of this newspaper and can be consulted.

The return of the amounts paid by the subscribers of the seats and boxes of the official race has become one of the pending tasks after the processions were suspended on March 14 by the coronavirus. During all this time, the Council was late in addressing the subscribers by means of a brief letter in which it asked them "trust and tranquility".

Meanwhile, many entities have proceeded with the return. The company Pagés instantly returned the bullfighting season tickets, and the City Council has already started the procedure to reimburse the fees for the Fair booths. The Brotherhood Council has so far shielded itself from the fact that the superior board cannot make that decision, discharging all responsibility in an assembly of older brothers. The Imserso has also returned the amount of the canceled trips, as well as many schools have done so with the expenses corresponding to dining, transportation and extracurricular activities.

Refund requests are not based on the Entertainment Law, but on the Civil Code. In the recommended draft application it is explained that “we are facing one of the assumptions contemplated in article 1,124 of the current Spanish Civil Code. I understand that there has been a resolvability without fault of the contract ”. And it is made clear that the subscriber does not renounce his right to renew the seats by 2021.

Confirming is a payment service to suppliers that is offered by a financial institution to powerful companies. Many companies contractually agree on long payment terms on the invoice date and confirming is a payment tool that allows the provider to have the invoice collected in advance of the due date of the payment agreed with the company. That is, the Council obtains this important line of credit thanks to the certainty of knowing that the official career is a business where the collection is guaranteed for three months before. The financial institution advances the money of the next year to attend the refund requests.

The financial institution may or may not charge a commission for the advance and some interest depending on the time in which the collection of said invoice (the credits) has been anticipated. For its part, the company that issues the confirming (the Council) has a direct financing relationship through a current account or credit policy associated with it. This restriction means that they can only be paid by confirming up to certain outstanding risk balances that have been previously agreed with the financial institution, which will be announced at the end of May meeting.

From the economic point of view, who really has the greatest advantage is the financial institution itself, since the confirming lines are only available to medium and large companies or very, very solvent SMEs with an excellent track record of payments and collections.

The financial institution is the biggest beneficiary for several reasons: it has access to payment channels from unusual providers and it has access to a group of clients that may be unknown. There comes into play the commercial work that is done by the issuance of their confirming. Obviously, it provides a credit service in both directions and, as a key part of its business, it increases its income statement.

The distribution of money

The Council of Brotherhoods gets about 3.8 million for the official career. Around 2,100,000 are distributed among the brotherhoods. 60% of that amount is distributed among the 60 brotherhoods that run through the Official Career and the other 40% is distributed among them, but depending on the number of steps each one has (122 in total). Those with one step receive 28,1145 euros; those with two steps, 35,000 euros and those with three 42,000 euros. Those of eve, between 11,000 and 15,000 euros depending on whether they have one or two steps. Those of Gloria who take out a procession, 4,000 euros. And those that do not get it, 900 euros. A pure sacramental receives 5,000 euros and a thousand euros which are not. But in 2020 they will all lose a little more than 40% as the processions have been suspended. And the Council will assume the costs of the banking operation.

diariodesevilla

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