In order to have correct data, Ihcafe coffee authorities ask exporters and roasters to document, free of cost, coffee production acquired directly or indirectly from coffee producers.

"We have our data base of around 85,000 coffee growers nationally," Flores affirmed.

The contributions for the 2007-2008 harvest was the most effective compared to previous years, according to Ihcafe authorities due to the fact that the sector is using more banking services.

Flores added that "the program works because each producer opens his bank account and then the information is compared to the deposits via a transfer to the banks of the trust.

Source: elheraldo.hn

More on this topic

Trusts and Extrajudicial Auctions

February 2015

The Costa Rican Banking Association notes that the fiduciary is authorized to perform extrajudicial property auctions of security trusts.

From a statement issued by the Costa Rican Banking Association (ABC):

ABC asserts that security trusts are a legal instruments

• Fiduciaries are authorized to carry out extrajudicial auctions; there is case law on its validity and legality.

Guatemala Extends Coffee Trust by 10 Years

October 2013

Loans using resources from the trust will have a yearly interest rate of 2% for micro and small producers and 3% for medium and large producers.

From a press release issued by the Congress of Guatemala:

With a qualified majority and under a National Emergency status, the Congress has approved Law Decree 12-2013 authorizing the extension of the contractual term of the Trust for Coffee known as "Fideicomiso apoyo Financiero para los Productores del Sector Cafetalero Guatemalteco" for 10 more years" , meaning that its term will expire on October 23, 2026.

Trusts as Business Generators

November 2011

Although it is still awaiting regulation, Act 741 of the trust agreement will enable new ways of doing business in Nicaragua.

Act 741, which concerns trust agreements was approved by the Assembly on November 4, 2010, and published in the Official Gazette on January 19, 2011.

Guatemala: Use of Trusts Grow

August 2011

As at 30 June, private trusts managed by banks increased by 9.41% compared to the same period in 2010.

Data from the Superintendency of Banks also indicated that trusts related to the state fell by 11.65% and those owned by municipalities increased by 155.4%.

The total amount managed by banking institutions as of June 30 this year was $990 million.