By Yasmine EDDAM
2 May 2025
The 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. A major innovation, it modernises instruments rooted in a centuries-old paper tradition. Companies now have a legally secure solution for their dematerialised transactions. Electronic transferable securities: a new legal category Law no. 2024-537 of 13 June 2024 introduces a new legal category: electronic transferable securities. Article 14 defines it as "a writing that represents an asset or a right and gives its holder the right to demand performance of the obligation specified therein, as well as the right to transfer that right". This innovation is directly inspired by the model law on electronic transferable documents adopted by UNCITRAL in 2017. Its adaptation to French law meets two central objectives: The legislator has specifically...
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