Draft decree published to redefine electronic invoice as a security: what does it consist of and what changes?
Draft modifies Decree 1074 of 2015 on electronic invoicing. Photo: Image generated with Artificial Intelligence - ChatGPT
TL;DR
- Colombia is revising regulations for electronic invoices to function as tradable securities.
- The proposed changes clarify rules for acceptance, registration, and negotiation on the Radian platform.
- Only electronic invoices intended for endorsement or negotiation will require registration on Radian.
- Acceptance of an electronic invoice must now occur within three business days of receipt, not upon delivery of goods/services.
- Once accepted, no debit or credit notes can be registered against the electronic invoice.
- The legitimate holder must inform the acquirer of their possession via Radian at least three days before maturity.
- These changes aim to streamline financing, particularly for SMEs, but necessitate greater internal control and technological readiness from businesses.