Commercial paper
Conflicts of laws relating to commercial paper: a practical guide
By Yasmine EDDAM2 May 2025Bills of exchange circulate across borders. They expose economic players to a variety of national laws. When a document is drawn in one country, endorsed in another and payable in a third, which law applies? These questions require precise answers. The conflict of laws regime provides a framework for resolving these difficulties. The international treaty framework Attempts have been made to unify commercial paper law. The Geneva Conventions of 1930 and 1931 form the main basis. The Geneva Conventions Two fundamental conventions govern the subject: the first aims to harmonise national legislation. The second establishes specific rules for resolving persistent conflicts. These texts have not been completely unified for several reasons: UNCITRAL and recent attempts Faced with the limitations of the Geneva Conventions, the United Nations Commission on International Trade Law (UNCITRAL) has...
The dematerialisation of commercial paper: Attractiveness Act 2024
Commercial, business and competition law, Commercial papersThe dematerialisation of commercial paper took a decisive step forward with the Attractiveness Act of 13 June 2024. This legislation revolutionises the law governing bills of exchange by creating electronic transferable securities. This major innovation modernises instruments that are rooted in a centuries-old paper tradition. Companies now have a legally secure solution...Effects of convenience: legal risks and penalties
Commercial, business and competition law, Commercial papersBills of convenience are one of the riskiest practices in the field of payment instruments. These fictitious securities, created without any real economic consideration, expose their signatories to serious legal consequences. Their use, although tempting for companies in difficulty, constitutes an offence that is severely punished by the courts.Promissory notes: using them to secure your receivables
Commercial, business and competition law, Commercial papersPromissory notes are an essential tool for managing trade receivables. It facilitates the granting of payment deadlines while enabling the sums due to be mobilised quickly. Less widely used than the bill of exchange, it retains its advantages for certain specific transactions and offers a legal framework...Bills of exchange: operation and legal issues
Commercial, business and competition law, Commercial papersBills of exchange are a major instrument in commercial transactions. This negotiable debt instrument enables companies to obtain deferred payment of their invoices while offering the possibility of mobilising their receivables before the due date. Despite changes in payment methods, it remains a preferred tool for companies.Commercial paper: a complete guide for businesses
Commercial, business and competition law, Commercial papersCommercial paper remains an essential legal instrument in commercial transactions. These negotiable instruments facilitate payment terms while enabling creditors to enforce their claims. Despite the development of electronic means of payment, they retain specific advantages that businesses need to be aware of. Common characteristics of...
EN 
FR