Terms & Conditions
1) General Information about the Contractual Process
The current web page www.centromundolengua.com is property of MUNDOLENGUA CENTRO INTERNACIONAL DE ESPAÑOL SL with CIF B91474908 located on CUESTA DEL ROSARIO 8 CASA 1 4º A 41004, SEVILLA.
The General Contract Conditions regulate the distanced sales relationship between MUNDOLENGUA CENTRO INTERNACIONAL DE ESPAÑOL SL and the user or Program Participant, in accordance with the legal stipulations, especially, Law 7/1998, of April 13th regarding General Contract Conditions, Law 3/2014, of March 27th approving the revised text of amending the General Law for the Defense of Consumers and Users, Law 15/1999, of December 13th, for the Protection of Personal Information, Law 7/1996, of January 15th of Retail Trade, and Law 34/2002 of July 11th for Services of Social Media and Electronic Sales.
MUNDOLENGUA CENTRO INTERNACIONAL DE ESPAÑOL SL reserves the right to carry out timely modifications, without prior notice, in the General Conditions. Said modifications will be carried out through the website by any correct admissible means and will be mandatory during the time they are published online until they are not validly modified through subsequent modifications. However, MUNDOLENGUA CENTRO INTERNACIONAL DE ESPAÑOL SL reserves the right to apply, in determined cases, various Particular Contract Conditions with preference to the present General Conditions when it is considered opportune, announcing them in a timely manner.
The objective of the web page is to offer students educational programs.
The contract period will be connected to the end of the service.
Users and Program Participants expressly acknowledge, understand, and accept the User and General Contract Conditions. In the same manner, they declare being of the age and having the judicial capacity to act accordingly to access the web sites of MUNDOLENGUA CENTRO INTERNACIONAL DE ESPAÑOL SL and of contracting through them.
To purchase our services, you can direct yourself to the corresponding section of our online catalogue.
It is a prerequisite that you register as a web user in order to carry out the online purchase. You can access the corresponding section for registration on the web site. Conforming to the established Law 15/1999 for the Protection of Personal Information, MUNDOLENGUA CENTRO INTERNACIONAL DE ESPAÑOL SL informs its user that personal information collected during the registration process and subsequent purchases will be placed into a folder under their responsibility, with the purpose of processing said actions on the part of the user and managing subsequent actions following after.
Additionally, MUNDOLENGUA CENTRO INTERNACIONAL DE ESPAÑOL SL informs you of the possibility to exercise the rights of access, rectification, cancelation, and opposition through a letter to the address CUESTA DEL ROSARIO 8 CASA 1 4º A 41004, SEVILLA or through an email to the address [email protected]
While we do not communicate the opposite, we understand that your personal information has not been modified, that you obliged to notify us of any variation, and that we have your consent to use your information for the purpose of finalizing the relationship between the two parties.
During the purchasing process you will be able to identify yourself with the provided user name and password. This information will not be published. You are responsible for treating the identity and password obtained as a Program Participant in a confidential and responsible manner, not relinquishing them to others. You can modify the registration information at any time, in your area for program participants. In this same section you will have access to the history of your contracted services, this is the only consult section but your input is allowed, being able to eliminate other registrations that are not necessary.
Upon completion of the purchasing process the Program Participant will receive a confirmation email. It is essential that during the purchasing process the user denotes a valid email address. If within 24 hours upon completion you have not received a confirmation email, contact MUNDOLENGUA CENTRO INTERNACIONAL DE ESPAÑOL SL on the customer service line at 954 00 42 65 or by email at [email protected] .
All of the web content is in Spanish.
Before the service begins the Program Participant will receive a confirmation email for the solicited service.
Once the service is provided the Program Participant will receive the corresponding bill.
In compliance with the current established norm in the Personal Data Protection, we inform you that your information will be incorporated into the system owned by MUNDOLENGUA CENTRO INTERNACIONAL DE ESPAÑOL SL with CIF B91474908 and address of CUESTA DEL ROSARIO 8 CASA 1 4º A 41004, SEVILLA, in order to meet the commitments in the contract signed by both parties. In compliance with the current norm, MUNDOLENGUA CENTRO INTERNACIONAL DE ESPAÑOL SL informs you that the data will be stored during the ESTABLISHED LEGAL PERIOD.
With the current clause you are informed that your data will be used in the case that it is necessary for: public administration and entities in which communication is necessary, with the result of providing the service previously mentioned.
Failure to provide the aforementioned data implies that the provision of services cannot be complied with in regards to the present contract.
In turn, we inform you that you can contact the Delegate of Data Protection of MUNDOLENGUA CENTRO INTERNACIONAL DE ESPAÑOL SL, in writing to the email [email protected] or by calling 902877192.
MUNDOLENGUA CENTRO INTERNACIONAL DE ESPAÑOL SL informs that it will treat the data in a lawful, loyal, transparent, appropriate, pertinent, limited, accurate, and updated manner. It is for this that MUNDOLENGUA CENTRO INTERNACIONAL DE ESPAÑOL SL agrees to take all reasonable measures to ensure that the data is deleted or updated when it is incorrect.
In accordance with the rights pertaining to the current norms in data protection, you may exercise your rights of access, rectification, limit of use, cancelation, portability, and opposition in the use of your personal data, as well as the consent for the same uses, by writing your opposition to the postal address indicated above or to the email address [email protected].
It may be addressed to the appropriate competent Control Authority to present the claim as considered opportune.
Lastly, MUNDOLENGUA CENTRO INTERNACIONAL DE ESPAÑOL SL informs you that the signing of the document grants explicit consent for the treatment of the aforementioned data.
2) Features, Supply, and Validity of the Services
The services offered in our online catalogue have detailed descriptions of their features.
In the case of an offered service, the price and validity of the service will always be indicated along with its features.
In compliance with current regulations MUNDOLENGUA CENTRO INTERNACIONAL DE ESPAÑOL SL offers information for all of its services, their characteristics, and prices. However, MUNDOLENGUA CENTRO INTERNACIONAL DE ESPAÑOL SL reserves the right to remove, replace, or change the services that are offered through its web page, by simply changing its contents. In this manner, the services offered at all times online are governed by the current General Contract Conditions in each case. Additionally, the business will have the authority to discontinue the offer, at any moment and without prior notice, to access any of the aforementioned services.
All of the services offered benefit from the corresponding guarantee to the type of service, the time, and form of presentation for the solicited services.
MUNDOLENGUA CENTRO INTERNACIONAL DE ESPAÑOL SL provides personal attention to the Program Participant through the phone number 954 00 42 65 or by email at [email protected] where you will be able to direct your claim.
All of the services indicate their sales price in Euros, Dollars, and Canadian Dollars, including tax.
Other applicable taxes will be indicated.
4) Expenses and Benefits for Services
MUNDOLENGUA CENTRO INTERNACIONAL DE ESPAÑOL SL only carries out services in Spain normally charging a fee of 80 Euros/150 Canadian Dollars/ 150 Dollars. In any case, the corresponding bill will detail the expenses related to the contacted service.
5) Forms of Payment and Performance of the Service
Fees shall be paid by the Program Participant as follows:
- The 80 EUR/150 US / 150 CAD deposit shall be paid upon registration and the online submission of the Contract.
- Program participants shall pay the remaining Program price, after deducting the non-refundable deposit, 42 calendar days or more prior to the start of the Contract.
The Program Participant will be able to pay the amount for their service in any of the following ways. During the purchasing process you will be able to indicate your choice:
- Credit Card VISA or MASTERCARD
All operation involving the transmission of personal or banking information will be carried out using a secure environment, based on the standard security technology SSL (Secure Sockets Layer). All information that you transmit to us in encrypted through our network. Additionally, the information about your credit card is directly introduced into the bank´s website, in the POS Terminal Bank and is not introduced or registered in MUNDOLENGUA CENTRO INTERNACIONAL DE ESPAÑOL SL.
To pay with a VISA or MASTERCARD the following information is always necessary: the card number, the expiration date, and the Validation Code that coincides with the last three numbers written in cursive on the back of your card, offering, in this way, more guarantees about the safety of the transaction.
This form of payment is only valid online.
When the amount for purchase has been falsely or improperly changed using the number of a credit card, the holder may demand immediate cancellation of the charge. In such a case, the correspondents note the debt and repaying of the card holder as soon as possible.
However, if the purchase has been effectively carried out by the card holder and the requirement for repayment was not due to having exercised the right of withdrawal or resolution and, therefore, had wrongly demanded the cancellation of the corresponding charge, they will be bound by MUNDOLENGUA CENTRO INTERNACIONAL DE ESPAÑOL SL to compensate for damages caused as a result of said cancellation.
- Bank Transfer
By selecting bank transfer you will receive a confirmation email containing the information for the bank of MUNDOLENGUA CENTRO INTERNACIONAL DE ESPAÑOL SL.
It is very important to carry out the transfer to indicate in the subject the reference number, such as your first and last name, and complete the transfer within 3 days following the confirmation date in order for it to be valid.
If you would like, you can send us the receipt for the transfer by email at [email protected]m. But in any case, the validation for the service will not be considered valid until our administrative department has confirmation of the bank deposit
The bank transfer will be carried out with the amount corresponding to the country in which it is made.
United States, China, and Japan, Dubai, Bahrain, Israel, Jordan, Kuwait, Lebanon, Oman, Palestine, Qatar, Saudi Arabia, Syria, United Arab Emirates, Yemen, Egypt: Dollars
Canada: Canadian Dollars
European Union and the rest of the world: Euros
In the case of bank transfers made outside of Spain, is it very important to tell your bank to charge the transfer of origin, and other bank fees and expenses to your account. Otherwise, MUNDOLENGUA CENTRO INTERNACIONAL DE ESPAÑOL SL could be crippled in the contract by not receiving the full amount thereof.
Possible exchange and banking fees are paid by the Program Participant.
- Resident Payment
If you are already one of our Program Participants and this is not the first time that you have contracted our services, you can select this form of payment and MUNDOLENGUA CENTRO INTERNACIONAL DE ESPAÑOL SL will pass a bank charge to the account number that is already on record.
If you are still not one of our Program Participants or this is the first time that you have contracted our services and you want to use this form of payment, contact us through our contact sheet in our email: [email protected] or through our customer service number: 954 00 42 65
The availability of services offered by MUNDOLENGUA CENTRO INTERNACIONAL DE ESPAÑOL SL can vary in function. In case of failure by unavailability, MUNDOLENGUA CENTRO INTERNACIONAL DE ESPAÑOL SL will notify the Program Participant in the moment that it becomes aware of the situation, by means of email. The period for this communication will not last longer than 30 days, in any case, MUNDOLENGUA CENTRO INTERNACIONAL DE ESPAÑOL SL will be able to give the double option of: offering the Program Participant, without a price increase, a similar or better service, or unless reasons are justified and provable by MUNDOLENGUA CENTRO INTERNACIONAL DE ESPAÑOL SL during this same time period to pay back the amount for the service. In the assumption that MUNDOLENGUA CENTRO INTERNACIONAL DE ESPAÑOL SL does not carry out this payment within the prescribed period, the buyer can demand double the payment, without prejudice of their right to be indemnified.
6) Right of Withdrawal, Payment Reimbursement, and Claims
The Program Participant shall have a maximum of 14 calendar days to withdraw, starting from the concluding day of the contract, without any form of penalization or need to give a reason.
The right to exercise withdrawal should be carried out either via a phone call to + 954 00 42 65, by email to [email protected], by a letter to our postal address at CUESTA DEL ROSARIO 8 CASA 1 4º A 41004, SEVILLA, or via a withdrawal form.
Following the established article 103 of Law 3/2014, March 27th, modified by the General Law for the Defense of Consumers and Users, supplies of services or goods made according to consumer specification or clearly personalized, by their nature, cannot be returned or are liable to expire rapidly, and are exempt from withdrawal.
If the Program Participant requests the service to begin during the withdrawal period, this will be bound to the payment of the proportional amount of the given part of the service when it has notified its withdrawal, in connection with the contract.
The Program Participant can cancel the Contract at any time before the start of the Program. In this case, MundoLengua will have the right to solicit payment for the appropriate compensation, whose amount will depend on the time between MundoLengua receiving the cancellation in writing and the starting date of the Contract. In accordance with this principle, the compensated amount will be calculated as such:
- If the Program Participant cancels more than thirty calendar days before the start of the Contract, MundoLengua will return all monies except for the deposit and any reasonable service fees charged to MundoLengua in carrying out said operation. MundoLengua will inform the Program Participant about said fees in writing.
- If the Program Participant cancels thirty calendar days or less before the start of the Contract, MundoLengua will return 50% of all monies that have been paid, not including the deposit or any reasonable service fees charged to MundoLengua in carrying out said operation. MundoLengua will inform the Program Participant about these fees in writing.
- Once the Contract has started, MundoLengua will not provide a refund of any monies paid for any reason whatsoever.
The reimbursement for amount received by the Program Participant will be carried out utilizing the same means of payment, if not otherwise approved.
MUNDOLENGUA CENTRO INTERNACIONAL DE ESPAÑOL SL will pay the satisfied amount to the Program Participant within 14 calendar days upon receiving the right to withdrawal.
In the case of unjustified delay on the part of MUNDOLENGUA CENTRO INTERNACIONAL DE ESPAÑOL SL, in respect to the return of the paid sum, the Program Participant will be able to receive double the paid amount, without prejudice to the right to be indemnified for damages suffered in excess of that amount.
If the Program Participant wishes to file a claim, the establishment MUNDOLENGUA CENTRO INTERNACIONAL DE ESPAÑOL SL is located on CUESTA DEL ROSARIO 8 CASA 1 4º A 41004, SEVILLA or by email at [email protected]
Additionally, MUNDOLENGUA CENTRO INTERNACIONAL DE ESPAÑOL SL reserves the right to file civil or criminal actions it deems appropriate for the misuse of its website and content or for the breaching of these conditions.
The relationship between the user and the provider will be governed by current legislation within the Spanish territory. If a dispute arises the parties will be able to submit their conflicts to arbitration or resort to ordinary jurisdiction, complying with the norms regarding jurisdiction and competence respectively. MUNDOLENGUA CENTRO INTERNACIONAL DE ESPAÑOL SL resides in SEVILLA, España.
11) Program Policies
The Program Participant refers to the individual, middle school, high school, university, college, or any other organization that enters into any sort of contractual agreement with Centro MundoLengua.
The Contract refers to the online application form available at www.centromundolengua.com
Centro MundoLengua (hereinafter also referred to as “MundoLengua”) refers to all employees, officers, Board of Directors, representatives, and agents.
The Program refers to the set of services, in whole or in part, provided by MundoLengua for the individual, middle school, high school, university, college, or any other organization that enters into any sort of contractual agreement with MundoLengua. The Program does not refer to airline transportation fees. The Program is deemed to have started on the expected Program arrival day by the Program Participant.
1) Sets of Policies
Program Participants are governed by and responsible for complying with four sets of policies:
- The Contract entered into by each Program Participant.
- Policies set by Centro MundoLengua.
- Policies set by the host school/university outside of the Program Participant’s home country.
- Policies set by the Program Participant’s home school/university in his/her country of residence.
In the case of conflict among these four sets of policies, the most specific and stringent policy shall apply. It is the sole responsibility of the Program Participant to become familiar with these policies and with any more demanding policies that may be imposed by his/her home institution in his/her country of residence.
2) Pricing and Accuracy
Centro MundoLengua endeavors to ensure that all the information and prices are accurate both on our website and in our brochures; however, occasionally minor errors occur and we reserve the right to correct prices in such circumstances.
All courses, activities, venues, and travel arrangements are subject to change according to weather, programming, and a satisfactory level of numbers. We reserve the right to cancel any courses and/or to change any information given, should this be necessary for any reason. Centro MundoLengua accepts no responsibility for the consequences of such changes.
3) Enrollment and Confirmation
By enrolling, the Program Participant accepts the Contract and Terms and Conditions of MundoLengua. The enrolment can be completed online through our website, or in special cases can be handwritten and sent to EMAIL at [email protected]
Enrolment is considered confirmed upon the receipt by the Program Participant of written electronic confirmation from MundoLengua. We will inform you as soon as reasonably possible and propose an alternative course if the course you have chosen is not available.
4) Information Provided at the Time of Registration
The Program Participant expressly declares that the information provided at the time of registration is true and accurate. Any inaccurate information or omission, whether intentional or not, may lead to immediate expulsion from the Program. In that event, the costs of the Program will not be refundable, either in whole or in part.
5) Payment Period
MundoLengua reserves the right to cancel a Program Participant’s place if, on the day of his/her arrival, he/she has not paid the total Program price.
6) Proof of Payment
Program Participants may be asked to provide documentary proof of payment of the full fee for their course and accommodation either before or on commencement of the course. Failure to do so may mean that entry to both the course and the accommodation will be refused.
7) Passports and Visa
The Program Participant will be responsible for complying with the security regulations, the regulations governing the obtaining of a visa, and the health regulations required to enter and stay in Spain. Under no circumstances will Centro MundoLengua be held liable for any notice of refusal to enter or stay in Spain given to a Program Participant. Information relating to the regulations governing security, health, and obtaining a visa can be obtained from the Spanish Embassy or Consulate in the Program Participant’s home country. No reimbursement will be made, either in full or in part, in the event that a Program Participant is refused permission to enter or stay in Spain.
8) Accident/Health Insurance
Insurance may be purchased for all of our Programs with our partner Mapfre. Every Program Participant will be entirely responsible for informing us if he/she wants to contract the insurance. This insurance will be invoiced with the Program. The terms established in Mapfre’s insurance policy will dictate all coverage. The medical and accident insurance covers hospital bills, doctors’ fees, and medical transportation up to 60,000€ for illness and/or injury sustained by a Program Participant during the program in Spain.
In addition, this insurance covers transportation, food, and lodging expenses during 10 days for one relative of the Program Participant to be at his/her side in the event of a life-threatening illness or injury that requires hospitalization. The medical and accident insurance also covers the costs for the transport of an injured or ill Program Participant to an adequately equipped hospital, or to a hospital in the Program Participant’s country of residence, if treatment cannot be provided in Spain. The insurance also covers the transportation costs (provided that the originally included-transport cannot be used) for a Program Participant to interrupt his/her MundoLengua program to fly home to his/her country of residence in the event of the death of an immediate family member, or in the event of severe damage to the Program Participant’s home or business.
9) Damage Caused by Program Participants/Civil Liability
Prior to arrival at Centro MundoLengua, each Progarm Participant must take out a policy of insurance to cover any loss/damage which he/she may cause during the course of his/her stay, whether intentional or not. In any event, and even if a Program Participant does not feel that it is appropriate for him/her to take out such insurance, he/she will be liable for any losses caused to Centro MundoLengua, its commercial partners, and any other third party.
10) Lost, Stolen or Damaged Property and Stolen Luggage
Centro MundoLengua is not responsible for the loss and/or recovery of any lost, stolen, or damaged personal property of the Program Participant. In the event of lost luggage, MundoLengua will aid to the best of its’ efforts, but the responsibility for recovering lost luggage and insuring that the Program Participant has enough clothes and supplies to continue the Program is the sole responsibility of the Program Participant.
In the case of a serious disciplinary offense, or infringement of one of the Terms and Conditions, MundoLengua reserves the right to expel the Program Participant from the Program without any refund of monies applicable to unused portions and/or components of the Program. The Program Participant will also be responsible for any fees associated with the return to his/her home country.
12) Program Rules
- Program Participants will respect and uphold MundoLengua rules regarding curfew. Activities such as inviting guests to the host family’s home, smoking inside the home, use of the family’s telephone, and, if applicable, use of the family’s internet, must be approved by the family.
- Program Participants will not drive cars, motorcycles, or scooters at any time during the Program. In order for a Program Participant to drive any off-road motorized vehicle, written permission must be obtained from parents or legal guardian.
- No Program Participant is permitted to travel outside the local area either alone or with other students. Overnight travel is permitted only with the approved group.
- Hitchhiking or soliciting a ride from a stranger is prohibited.
- Program Participants may not enter into any kind of contractual arrangement, be it business, religious, or marital.
- Program Participants will not make any permanent or drastic changes in their personal appearance while on the Program without the prior written consent of their parents or legal guardian. Examples include body piercings, tattoos, or dramatic and unconventional hair dyes.
- Program Participants must take responsibility for all personal property; MundoLengua cannot be held responsible for any Program Participant’s personal property that is lost or stolen.
- Program Participants will not discuss their host family’s private affairs with anyone other than a MundoLengua representative.
- Program Participants cannot change their host family without permission from a MundoLengua representative.
- Program Participants must obey all local and national laws.
- Program Participants have to respect the legal drinking age of their home country and of Spain . Program Participants who have not achieved the legal drinking age of their home country and of Spain must adhere to MundoLengua’s rules pertaining to the drinking of alcohol (zero tolerance). Progarm Participants who fail to do so will face expulsion from the Program, without recourse and at the Program Participant’s expense.
- Use of illegal drugs, or association with anyone involved with illegal drugs, will result in the Program Participant being returned to his/her home country, without recourse and at his/her expense.
- Program Participants are not allowed to travel with their pets.
13) Changes affecting Prices, Dates, and Services
Until such time as a Program Participant receives written electronic confirmation of registration, Centro MundoLengua may change the dates and prices of a Program published on the internet or any other communication tools at any time. Following written electronic confirmation of registration between Centro MundoLengua and the Program Participant, Centro MundoLengua may change its Program of services, provided that the changes are minor, unavoidable, and based on good faith.
14) Minimum Number of Participants
In the event that it is not possible to achieve the minimum number of Program Participants required for a Program, Centro MundoLengua will notify the Program Participant in writing and/or by telephone, as soon as reasonably possible. If Centro MundoLengua is unable to provide a replacement Program, Centro MundoLengua will undertake to reimburse all fees paid to date. Under no circumstances will Centro MundoLengua pay compensation for any inconvenience or loss of time.
Depending on the weather conditions or other circumstances beyond the control of Centro MundoLengua, we reserve the right to cancel one or more of the scheduled activities described in the Program. In that event, Centro MundoLengua will use its’ best efforts to substitute the cancelled activities with others.
The Program Participant will be charged for the replacement of items broken due either to negligence or intention on his/her part. The Program Participant may be charged for the replacement of locks if the host family’s keys are either lost or stolen for any reason. Program Participants will not have the right to a refund for any portion of unused housing, for any reason.
17) Cancellation of Program
Centro MundoLengua reserves the right to cancel a Program for safety reasons as a consequence of a strike, political unrest, or for any other extraordinary reason. In that event, Centro MundoLengua will undertake to reimburse all costs relating to the Program. Centro MundoLengua reserves the right to retain a certain amount to cover administration costs.
18) Outside Forces
Centro MundoLengua cannot accept liability or pay compensation where the performance of our contractual obligations to Program Participants is prevented by or affected by “force majeure”. In these Terms and Conditions “force majeure” means any event which we or the supplier(s) of the service(s) in question could not, even with all due care, foresee or avoid. Such events are likely to include, but are not limited to, cancellation of a special event by the organizers, industrial dispute, terrorist activity, natural, nuclear, chemical, or biological disaster, fire, adverse weather conditions, and all similar events outside our control.
Under no circumstances can Centro MundoLengua be held liable for any loss resulting from illness, accident, or inconvenience caused by poor service provided by any agent appointed by Centro MundoLengua. Neither will Centro MundoLengua be responsible for the loss of any valuables, personal items, money, etc. unless such losses were due to deliberate negligence on the part of Centro MundoLengua. Further, by accepting these Terms and Conditions, Program Participants hereby release MundoLengua from any and all claims, charges, costs and/or causes of action, whether covered by insurance or not, for loss of property, personal injury, illness, accident or death sustained by the Program Participant during the MundoLengua Program.
20) Safety and Security
Centro MundoLengua is authorized to take all reasonable action as required to ensure the well-being and good health of the Program Participants. Centro MundoLengua is also entitled to take all necessary measures to provide a Program Participant with any appropriate medical care in the event of necessity, including the administration of an anesthetic and surgery. MundoLengua will use its’ best efforts to contact by phone parents and/or legal guardians before deciding upon any medical procedures. Any costs arising from such medical attention will be borne by the Program Participant or his/her legal representative if he/she is a minor.
21) Promotional Material
Centro MundoLengua reserves the right to retain and use photographs either taken by or showing a Program Participant for promotional purposes. The same applies to videos filmed by or showing a Program Participant. The same applies to anything produced by the Program Participant during the Program. Centro MundoLengua reserves the right to use any photos, videos, or testimonials from its Programs in any manner it desires, both nationally and internationally. The photos and videos captured will be published on the corporate website, as well as corporate social networks and in other communication forms like television and news.
22) Foreign Currency
The total amount in foreign currency, relative to your Program, is converted into euros the day MundoLengua receives your deposit or payment. We apply an exchange rate based on the inflated interbank rate of the day in order to cover exchange risks. Refunds will take place by applying the same exchange rate based on the inflated interbank rate of the day of payment.