Regulatory Alerts2023-01-01
Law on Bills of Exchange
The Parliament of the Republic of Montenegro enacted this law to regulate the content, form, and operational procedures of bills of exchange. It establishes mandatory requirements for drawn bills, including specific elements for validity, and defines legal mechanisms for endorsement, acceptance, aval, and maturity. The legislation further details the rights and obligations of parties involved, procedures for payment, and the recourse available for non-acceptance or non-payment.
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