The Electronic Invoice as a Negotiable Instrument: Key Aspects for Initiating a Claim

In Colombia, the electronic invoice has gained prominence not only as an efficient billing mechanism but also as a negotiable instrument, meaning it can be used as a legal tool to enforce debt payment. This advancement has enabled companies to streamline their collection processes, simplifying the path toward overdue accounts recovery. However, to initiate a claim with an electronic invoice, it is essential to meet certain legal requirements and thoroughly understand its nature as a negotiable instrument.

This article covers the essential points to consider when using an electronic invoice in the context of a claim and how to ensure that the process is effective, safeguarding your company’s legal and financial interests.

The Electronic Invoice as a Negotiable Instrument

In Colombia, Law 1231 of 2008 and subsequent regulations, such as Decree 1154 of 2020, establish that electronic invoices can serve as negotiable instruments. This means that, under certain conditions, an electronic invoice becomes a document that legitimizes the creditor to demand payment of an obligation. This status grants the invoice a legal power similar to that of a promissory note or a bill of exchange, facilitating collection, even through judicial means.

For an electronic invoice to be considered a negotiable instrument, it must meet the following requirements:

1. Indication as a Negotiable Instrument: The invoice must expressly state that it is a negotiable instrument, a key formality for debt enforcement.
2. Express or Tacit Acceptance by the Debtor: The electronic invoice must be accepted by the debtor, which may occur through an electronic or digital signature confirming receipt and acceptance of the debt. Alternatively, tacit acceptance applies if the debtor raises no objections within the legal period (three business days from receipt).
3. Compliance with DIAN’s Formal Requirements: To be valid as a negotiable instrument, the invoice must adhere to all technical and formal specifications mandated by Colombia’s tax authority, the DIAN. This includes aspects such as numbering, document authenticity, digital signatures, and integration with authorized billing systems.

Key Considerations Before Initiating a Claim

Although the electronic invoice as a negotiable instrument provides an effective tool for debt collection, it is crucial to consider certain factors before initiating a claim:

1. Verification of Invoice Acceptance: The first step in using an electronic invoice as the basis of a claim is to ensure that it has been duly accepted by the debtor. As noted, acceptance may be express or tacit. For tacit acceptance, evidence of the invoice’s dispatch and the terms of its delivery, along with the debtor’s lack of response or objection, are essential.
2. Review of Prescription and Payment Terms: As with any negotiable instrument, the electronic invoice has a prescription term, generally three years from the date it becomes due. Ensuring that the invoice is not time-barred before filing a claim is essential, as is verifying whether the payment deadline has passed; if not, judicial collection is not viable.
3. Prior Conciliation: Depending on the type of debt, pre-judicial conciliation may be required before filing a claim. Conciliation is a procedural requirement in Colombia for certain claims, and failure to fulfill it can result in claim dismissal.
4. Debtor’s Payment Capacity Analysis: Although the electronic invoice as a negotiable instrument simplifies the claims process, a preliminary analysis of the debtor’s solvency is recommended. Legal proceedings entail costs, so evaluating whether the debtor has assets or financial means to meet the obligation is essential. If recovery is not feasible, the claim could become a costly endeavor without practical results.

Judicial Process for Collection of the Electronic Invoice as a Negotiable Instrument

Once these factors have been verified and the invoice is confirmed to meet the requirements as a negotiable instrument, the next step is to initiate a judicial process. In Colombia, this is known as an executive process, which has the following characteristics:

1. Executive Claim: The first step is to file an executive claim, attaching the electronic invoice with the debtor’s acceptance as evidence. The claim must request that the judge order immediate debt payment and, if the debtor fails to comply, proceed with asset attachment.
2. Payment Order: If the judge deems the claim valid and the invoice meets the legal requirements, a payment order is issued. This judicial order instructs the debtor to pay within a set period or, if not, to present objections.
3. Attachment and Seizure: With the payment order, the creditor may proceed with the attachment of assets, bank accounts, or income to ensure obligation fulfillment. At this stage, the creditor may request asset seizure to guarantee debt coverage.

Advantages of Using the Electronic Invoice as a Negotiable Instrument for Collection

The use of the electronic invoice as a negotiable instrument offers several benefits in debt recovery:

• Facilitates Debt Enforcement: As a negotiable instrument, the electronic invoice enables creditors to demand payment through judicial channels more quickly than other documents.
• Solid Documentary Evidence: The electronic invoice contains all legal formalities, providing strong documentary evidence should judicial intervention become necessary.
• Efficient Collection Timeframes: As an executive document, the electronic invoice expedites judicial proceedings, significantly reducing recovery timelines.

Conclusion

At Trébol Jurídico, we understand the importance of timely and efficient overdue accounts recovery. The electronic invoice as a negotiable instrument is a powerful tool that allows companies to enforce debt payments swiftly and effectively, provided that legal requirements are met. Our team is prepared to guide you through each step of the process, from invoice acceptance verification to judicial enforcement, ensuring that your rights are protected and your accounts are successfully recovered.