Regulatory Alerts2025-01-09
Convention for Non-Standardized Bills of Exchange (LDC)
Issued by the Central Bank of the Republic of Guinea (BCRG) on April 30, 2020, this convention establishes the operational and legal framework for the electronic exchange and compensation of non-standardized bills of exchange within Guinea's national telecompensation system. It mandates strict verification, scanning, and retention procedures for presenting institutions, while defining drawee institutions' obligations regarding payment verification, rejection deadlines, and dispute handling. The agreement also outlines reimbursement protocols for double payments or discrepancies, technical failure contingencies, and mandates OHADA-compliant arbitration for any unresolved disputes.
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