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Application of connected contracts and the need for authorization to report to the credit bureaus.
Find here all about the theory of associated contracts and the obligations to verify the information before reporting your clients to credit bureaus.
1. Emphasis on the theory of connected contracts: The contract connection is revealed when there are several individual contracts and conceptually united by something in common. This theory plays an important role when analyzing a breach of contract by one or more of the parties in such connexion.
2. Obligation of legal entities to accuracy of the information before reporting their client to the credit bureaus: In the concept 21128640 of May 11th, 2021, the Superintendence of Industry and Commerce ("SIC") explains how the Law 1266 of 2008 or Financial Habeas Data should be combined with the Law 1581 of 2012 on data protection in relation to the reporting to the credit bureaus.
