Nicaragua: Exchangeable Invoice Law

The proposal has already been favorably reviewed by the Economic Committee of the National Assembly and its approval is expected next week.

Wednesday, September 1, 2010

The law would make exchangeable invoices a legal proof of transactions, where they are issued between financial institutions and businesses seeking to acquire funds, particularly micro, small and medium sized enterprises (MSMEs).

"Gilberto Alcócer, president of the Nicaraguan MSME Council (Conimipyme in Spanish), estimates that once in force the law will enable approximately $50 million to be invested," reports Laprensa.com.ni.

More on this topic

Costa Rica: Bill on Factoring

October 2012

Entrepreneurs in the finance sector and academics are preparing a proposal to regulate by law invoice discounting, an activity which keeps on growing.

The wording of this proposal has gained importance in recent days as the Legal Affairs Committee of the Legislature began a study of a factoring project dating from 2002.

Nicaragua Passes Exchangeable Invoices Law

November 2010

The new law will help raise funds primarily for small and medium enterprises.

"The text of the law refers to the currency bill as “a negotiable security, which will serve as legal support when transactions are issued between employers and a financial institution, if the purpose is to raise funds", published Laprensa.com.ni.

SME Law in El Salvador for 2011

November 2010

By year's end, the draft would be ready for submission to the National Assembly in early 2011.

The National Commission for Micro and Small Enterprises (CONAMYPE) went through the last stage of consultations for the proposed law for micro and small enterprises (SMEs).

During this phase, meetings have been held with trade associations, financial intermediaries and others, and is the latest step in presenting the bill to the Legislature later this year or early 2011. "We would expect a good reception by the Legislature so this law can become a reality by middle of next year, or before," said Ileana Rogel, Director of CONAMYPE to Laprensagrafica.com.

Nicaragua: $2 Million SME Factoring Project

August 2010

Through an agreement with the IDB's Multilateral Investment Fund (Fomin), the company Credifactor will offer factoring (selling invoices at a discount) services to small and medium sized enterprises.

The total cost of the project is approximately two million dollars, which will enable Credifactor to develop its capabilities, carry out training and expand its services across Nicaragua.

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