65 Anuário Yearbook ABLA 2014 Caixa Econômica Federal, whose mission is to be the main bank driving tourism in Brazil, supports the entire production chain through various partnerships for the provision of financial products and services tailored to individualsandcorporations. Theaim is toqualify theservices providedandprovidequality for tourists coming toBrazil. And at thisspecial time,when thecountrywill host theFIFAWorld Cup -oneof thebiggest sportingeventson theplanet -CAIXA offersmembers of ABLACredfrota. Credfrota is a line of credit to finance the purchase of Brazilian-made vehicles at fixed interest rates for rental companies thatareCAIXAclients. It isdesigned tohelp renew andexpand the vehiclefleet to serve thedemandexpected in 2014 on thismarket. In the inbound tourism segment, car rental companies offer a service required by Brazilian and international tourists who want new, high quality cars. To meet this demand, car rental companies must renew their fleets regularly, which requires capital that the companies often do not have. One advantage of Credfrota is that the company’s cash flow is safeguarded, without compromising working capital during the financing, allowing the company to apply the capital as it sees fit. This is becauseCredfrota has a different formof amortization,whichallows the company topay lower installments than in other forms of finance, as much of the value is reserved for the final installment, when the rental companyusually sells the vehicleand renews thefleet again. And the partnership CAIXA haswith ABLAmembers does not endwith thefinal installment.When renewing thefleet and selling on used cars, members can tell purchasers that CAIXA offersthebestfinancingconditionsonthemarket,withextremely competitive rates,which facilitates thesaleof theasset. TobetterserveABLAmembers,CAIXA isalsonegotiating special terms with some manufacturers for the purchase of vehicles and is evaluating in a centralized and automated manner over 300 car rental companies across the country, which accounts for one third of the membership base. The goal is that in May it will be possible to renew or expand the fleet and serve tourists with the best quality cars at the international events to be held inBrazil. Credfrota renews rental fleets
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