Draft decree published to redefine electronic invoice as a security: what does it consist of and what changes?

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.

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