The Benefits of Commercial Effects in Securing Payments
After the digitization of checks through the publication of Law No. 41-2024 on August 2, 2024, regulating checks and the Tunichèque application, we must legally seek alternatives to ensure our payment operations in case of insufficient funds. Commercial effects, including bills of exchange and promissory notes, are financial tools used by businesses to secure and formalize term payments in commercial transactions. They offer numerous advantages, including enabling businesses to quickly finance their purchases or sales without resorting to traditional lines of credit.
By accepting this type of payment, creditors can receive funds before the due date, improving their treasury management and providing better liquidity management. In addition to optimizing business treasury, commercial effects also reduce the risk of non-payment. The drawer (client) formally commits to paying the amount on a specific date, securing the transaction for the creditor. In case of non-payment, the holder of the commercial effect can take legal action to recover their dues. Thus, this instrument protects businesses against bad debts while offering guarantees on commercial transactions.
Commercial effects also strengthen customer relationships by offering more flexible payment terms, which can foster customer loyalty. Moreover, they are accessible to all businesses, regardless of their sector of activity, allowing them to benefit from more flexible payment management. By transferring the claim to a bank or discounting it, businesses can quickly convert their claims into liquidity, thereby enhancing their ability to finance other investments or projects.
