Regulatory Alerts2025-01-09
Standardized Bills of Exchange Convention (SBC)
The Central Bank of the Republic of Guinea issued this convention to establish binding obligations and technical procedures for the electronic exchange, presentation, payment, and rejection of standardized bills of exchange within its national telecompensation system. It mandates presenting institutions to verify material and digital conformity, scan all bills regardless of amount, and adhere to strict rejection timelines, while requiring drawee institutions to validate amounts, signatures, and manage technical failures through backup protocols. Disputes are resolved amicably or via OHADA arbitration, with final awards enforceable after judicial exequatur in Guinea.
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