Lending in Mexico

MX is the market the Platform lends in, and this page is the regulatory ground under the mechanics the other pages carry. Each section states what the Platform enforces and how settled the ground under it is: a rule marked provisional is enforced at its cautious reading, and the final answer belongs to your counsel, what follows is what the Platform does and what it has read, not legal advice.

The CAT

Every quote and every read carries disclosure.figure: the CAT, Costo Anual Total, computed as Banxico’s Circular 21/2009 prescribes, on 365-day years, published to a denominator of 1,000. It prices everything the borrower pays, the fees included: a 0% product with a fee still discloses a real cost.

Rule	Basis
The figure is computed at issuance and never restated, not by a configuration version, not by a rollover	Novación is never presumed, Código Civil Federal art. 2215, so the continuing obligation keeps its figure. Whether a rolled segment needs its own disclosure is open, below
365-day years, thousandths	Circular 21/2009. The computation is the Platform’s implementation of the circular’s method

Provisional until confirmed

The reading the Platform computes the CAT under is provisional. The effective annual equation, exponents in years and fractions of a year, 365 days and one decimal follow Banxico’s variable definitions; secondary summaries describe a different calculation, and the resolution itself has not been read directly. The Platform says so on the figure: every disclosure carries convention (mx-cat), convention_version and provisional, which is true today.

Question	Answer
What does `provisional: true` mean	The Platform has not confirmed that version of the rule against the resolution. The figure is the Platform’s best reading, not a confirmed one
Who decides to print it	You. A carátula, an offer or a contract printed under a provisional reading is your decision, and now a visible one
Does a Loan’s status change	Never. `convention`, `convention_version` and `provisional` are frozen with the figure at issuance, so a Loan issued under a provisional reading reads provisional for its whole life, and a Loan issued after a confirmation reads confirmed
What does the confirmation record	The reviewer, the date and the resolution it was confirmed against, kept beside the rule in the Platform’s code. It is a release of the Platform, reviewed like any other change; neither you nor an administrator of yours confirms it at runtime, and the golden figure it is pinned to does not move
What if the reading is wrong	A correction that changes the form, the year or the precision is a new `convention_version`. Loans already issued keep naming the version they were issued under

IVA

The Platform asserts the IVA a Mexican loan may bear. Every issuance states its tax, and the tax must be one of these three rules, compared whole:

Rule	`tax`	When it applies	Basis
General	`{"rate": "16", "on": ["interest", "fee", "penalty", "late_fee"]}`	Every borrower not in the two cases below	LIVA art. 15-X: the exemption for interest received by the financial system does not reach credit to individuals outside a business activity. Art. 18 puts ordinary and moratory interest and penalties in the base
Border region	`{"rate": "8", "on": ["interest", "fee", "penalty", "late_fee"]}`	A borrower in the border region	The reduced rate on the same base
Exempt	`{"rate": "0", "on": ["interest", "fee", "penalty", "late_fee"]}`	A business borrower the exemption reaches	LIVA art. 15-X

Which case a borrower is, you state: the Platform cannot know where a borrower lives or why they borrow. Stating the rule is stating the case, so a border-region loan states 8%. A product with no late fee may leave late_fee out of the rule, and one with no origination fee and no rollover fee may leave fee out: a component the loan can never charge is taxed at nothing either way. Any other rule is refused 422 tax_rule_not_admitted, naming the three rules above. Tax is computed per component beside each charge, with principal never taxed. Pricing carries the arithmetic. These readings are conservative assertions pending the regulatory pass. The IVA treatment of the rollover_fee is open, below.

Penalty interest

The Platform enforces	Basis
Penalty accrues on the overdue principal of each period, never on charges, and it never capitalises	The moratory-interest entry of the supplied `MX` rule: a conservative assertion pending the regulatory pass, enforced structurally, penalty has no rung it could compound into
The ceiling on a loan’s penalty rate is twice its own ordinary rate, a ratio, never a numeral. A 0% loan admits a penalty rate of 0%	The same conservative assertion. Mexican law fixes no general numeric ceiling on moratory interest, and the Platform does not pretend it found one
Acceleration needs three missed periods and fifteen days of evidenced notice	The same entry’s acceleration conditions. A missed period is one unsettled, never merely one elapsed
A delay is charged once: a Loan carrying a late fee takes a penalty rate of zero, and one with a penalty rate above zero carries no late fee. The pair is refused at preview and issuance 422 `late_fee_beside_penalty`; a Loan issued before keeps its terms	Banco de México forbids a bank a late-payment commission for a period it charges moratory interest on (Circular 22/2010, prohibited commissions). The Platform applies it to every lender in the market

Usura on a repeatedly rolled high-rate loan stays a live commercial risk. Mexico sets no general rate cap, and is listed among the open questions below.

Allocation order

Every receipt settles under the rendered rule: within a period, penalty, then late fee, then fee, then interest, then principal; matured periods oldest first; among an undesignated client’s loans, the most onerous first, then the oldest. Payments carries the waterfall worked through. Two invariants hold in every jurisdiction and no rule may override them: capital is not deemed paid before interest, and a matured obligation is settled before a later one.

Of the order, what is law	What is contract
Interest before capital, Código Civil Federal art. 2094	Everything else: the market’s ordinary contractual shape, taken at the reading least favourable to the lender

Código de Comercio art. 364 on imputing part payments to interest first has not been analysed against this order. It stands in the open questions below.

Rollover

Rollover is provisional. The Platform enforces a conservative reading of Mexican law and the final answer belongs to your counsel; what follows is what the Platform does and what it has read, not legal advice.

What is enforced

Four rules, each of them the cautious side of a line the law draws.

Rule	Why it is the cautious side
The settlement is paid in money and never capitalised	Código Civil Federal art. 2397 voids an agreement made in advance that interest be capitalised and bear interest. The Platform never folds unpaid interest into the segment’s principal, so the clause that would be void is never written.
No unpaid interest enters the segment	Código de Comercio art. 363 lets parties capitalise interest that has fallen due, but does not make it automatic. The Platform does not make it automatic either.
A loan with anything overdue is not rolled	Rolling arrears forward converts moratory exposure into fresh term, which is what supervisors read as rollover abuse.
One loan, one identity, one disclosure figure	Novación is never presumed, Código Civil Federal art. 2215, so the continuing obligation is the civil-law default, and the CAT computed at issuance is not restated.

The supervisory cost

A rollover is not neutral in your accounting, and paying the interest does not make it neutral.

Under CNBV criterio B-6 (Anexo 33 de la CUB, ¶ 99) a credit with a single principal payment at maturity that is restructured or renewed at any time moves to the next credit-risk stage, and stays there until there is evidence of sustained payment, expressly regardless of whether the interest was paid periodically or at maturity. The interest-settlement relief at ¶ 104 is written for credits with characteristics other than those in ¶ 99 to ¶ 103, which is not this product. A credit restructured or renewed more than once goes to etapa 3 under ¶ 107 unless you document repayment capacity.

The Platform does not stage credit risk and will not do it for you. What it gives you is the number the staging turns on: rolled_over on the loan read and on every list row is how many rollovers stand in force.

Naming it

Call the operation a prórroga or a reestructura in Spanish-language documents. CNBV’s own definition of reestructuración names prórroga del plazo del crédito and modificación al esquema de pagos pactado, which is what happens here. Do not call it a renovación. CNBV uses that word for a credit whose balance is liquidated with the proceeds of another credit, which is not what the Platform does, and the word invites the accounting treatment that follows from it.

Still open

These are unresolved and the Platform takes no position on them.

Question	State
Does a rollover require a fresh carátula or contrato de adhesión registered with CONDUSEF?	No primary text found either way.
Must the CAT be recomputed and disclosed for the segment?	Unresolved. The Platform does not restate the figure computed at issuance.
Exposure to a usura claim on a repeatedly rolled high-rate short-term loan	A live commercial risk. Mexico sets no general rate cap.
IVA treatment of the `rollover_fee`	Unverified. It travels as `fee`, so the Platform taxes it under the loan’s own frozen rule, as every admitted rule names `fee`.
Whether CUOEF Anexo 38 carries B-6’s staging to a SOFOM	Unverified. It decides whether the staging above binds you.
Código de Comercio art. 364 on imputing part payments to interest first	Not analysed against the Platform’s allocation order.

Withdrawal and undoing

A withdrawal records that a borrower withdrew inside a window you name, in days from the anchor. The Platform checks the date against the window. The statutory right is narrower. A borrower may cancel an adhesion contract within ten business days of signing it, with no commission and nothing owed, but only while the credit has not been drawn (LTOSF art. 11 Bis 1; the Disposiciones, art. 5). On the Platform that is a Loan issued with a hold and not yet confirmed: void it, and it never bound. Once the credit was disbursed, a withdrawal is your contract’s term, and the window is the one you state. A restructuring never capitalises. It re-amortises the principal alone and carries the unpaid interest, fee, penalty and late fee onto the new periods without interest. The Federal Civil Code (art. 2397) voids an agreement made in advance to capitalise interest, the Código de Comercio (art. 363) admits capitalisation only by express agreement, and the Supreme Court has reportedly held automatic capitalisation clauses in adhesion contracts unconstitutional. Its fee is the product’s declared restructuring_fee, one amount, as every commission you charge is one you registered. An undone Loan — rescinded, voided or withdrawn — owes no interest and no fee from its anchor. The market’s fee rule, under which the origination fee is earned at origination, governs a Loan repaid early; it does not reach a Loan that never bound.

Still open

Question	State

Periodic statement

A statement serves a Loan’s figures for any civil period you name, and the Client’s statement serves the same for every Loan of a Client, with totals per currency. The Platform serves the figures and renders no document. The list is CONDUSEF’s, for a credit granted by a SOFOM E.N.R. (Disposiciones de carácter general en materia de transparencia, DOF 11.08.2015, arts. 33 to 36). Every item on it that the Platform holds is served.

What the Platform serves

Item the rule requires	Served as
The period the statement covers and its cut date	`from`, `to`, `cut_on`
Credit amount, opening balance and balance at the cut	The listing row’s `principal`; `opening` and `closing` by component
Amount to pay in the period, split into capital, interest and other charges	`amount_due[].scheduled`, by component with the tax on each; `amount_due[].owed` is what it still asks for at the cut
Payment number out of the total	`amount_due[].index` of `amount_due[].of`
Due date, moved to the next business day where it falls on a closed one	`amount_due[].due_on`, as the Loan’s calendar adjusted it
Outstanding principal	`closing.principal`
What a partial prepayment did: fewer payments or a lower instalment	`prepayments[]`: `shortened` with `removed`, or `lowered` with `instalment` and `by`
The bases ordinary and moratory interest were computed on	`charges[].base` on interest and on penalty
For a mass-market credit, a box with the CAT, the ordinary and moratory rates and the interest charged in the period	`terms_box` (the CAT with `provisional`, `rate`, `penalty_rate`) and `interest_charged`
Every commission charged, and their total	`charges[]` (fees and late fees, each with its tax) and `commissions_charged`
Every movement	`receipts`, `reversals`, `facts`

What you print and deliver

The rule requires	Where it comes from
Your name, address, phone and logo	Yours
The borrower’s name and the contract number	Yours
The notice that your complaints unit (UNE) takes queries and claims, with its contact, and CONDUSEF’s details	Yours
Taxes withheld and fiscal data	Yours
Delivery: free, monthly or at the agreed interval of at most six months, within ten days of the cut; or made available online where the borrower agreed	Yours. The Platform enforces no cadence: the period is the one you name
At least two statements for a credit shorter than a year	Yours
No statement for a credit paid in one payment: making balances and movements available is enough	Yours
A final statement or a certificate of no debt within ten business days of payoff	A statement read over the closing period serves its figures

This is a researched, conservative reading of the 2015 text, not a licensed opinion. Have your counsel confirm the current consolidated version before the first real borrower.

Credit bureaux

The Platform reaches Círculo de Crédito as your instrument, under your own standing, the model Círculo de Crédito documents. Two readings behind it are provisional. The Platform enforces the cautious side of each and the final answer belongs to your counsel; what follows is what the Platform does, not legal advice.

Rule	Why it is the cautious side
You are the Usuario; the Platform queries with your contract, your credentials and your authorisation	LRSIC arts. 29 and 30 tie the enquiry to the Usuario’s contract with the credit information society and to the borrower’s authorisation held by it. The Platform holds no bureau account of its own and the schema has no table for one, so the party with the standing is the party the law names.
One authorisation, one consulta	The Regla Octava governs what an authorisation may be used for. The Platform reuses nothing: no report is cached, none is served twice, and the schema has no column that could hold one, the strict reading is enforced rather than intended.

Still open

These are unresolved and the Platform takes no position on them.

Question	State
Whether LRSIC arts. 29/30 admit the Platform querying as your encargado, or require the transmitting party to be a Usuario in its own right	With counsel. Live service against the bureau is gated on the answer; the model above is enforced meanwhile.
Whether the Regla Octava permits reusing one authorisation within a stated window	With counsel. The Platform is built at the strict end, one consulta per authorisation, and can relax if the answer widens; it could not cheaply tighten the other way.

Getting started

Authentication

Lending

Risk

Markets

Lending in Mexico

The CAT

Provisional until confirmed

IVA

Penalty interest

Allocation order

Rollover

What is enforced

The supervisory cost

Naming it

Still open

Withdrawal and undoing

Still open

Periodic statement

What the Platform serves

What you print and deliver

Credit bureaux

Still open

​The CAT

​Provisional until confirmed

​IVA

​Penalty interest

​Allocation order

​Rollover

​What is enforced

​The supervisory cost

​Naming it

​Still open

​Withdrawal and undoing

​Still open

​Periodic statement

​What the Platform serves

​What you print and deliver

​Credit bureaux

​Still open

The CAT

Provisional until confirmed

IVA

Penalty interest

Allocation order

Rollover

What is enforced

The supervisory cost

Naming it

Still open

Withdrawal and undoing

Still open

Periodic statement

What the Platform serves

What you print and deliver

Credit bureaux

Still open