March 1505

With the crown focused on India there is little attention or funds to be directed towards the New World. However, if Portugal's claims to Brazil are to be defended the crown needs to continue its expansion into the region and keep pirates(both in the literal sense and referring to “illegal” expeditions as pirates) out. To accomplish this the crown has decided to privatize the exploration of Brazil.

The captaincy of Brazil is to be sold for a period of 10 years. The captain will owe the crown 10% of the revenue of the colony for this period and be granted a complete monopoly on Brazil. In return the captain must keep pirates out of Brazil and expand the pau-Brazil trade with factories. The winning bid will be decided not just on price, but also the crown's confidence of the prospective captain to accomplish this mission. It is understood that if the captain fails to accomplish their mandate their captaincy may be revoked before the end of the period, but if they succeed they will be richly rewarded including a continuation of the captaincy beyond the 10 year period. Fernão de Loronha is expected to make the best bid, but the crown is open to other bids.