On April 28, two relevant bills for your sector were passed. The first one was approved in the committees of Finance and Public Credit and Legislative Studies Second of the Senate, regarding the use of electronic promissory notes. The bill was sent to the Senate´s floor. The second bill was approved in the Finance and Public Credit Committee of the Chamber of Deputies, and refers to the regulation of payroll credits with delegated collection. This text has not yet reached the Chamber of Deputies. In the event that this chamber does not consider it before April 30, it will remain pending until the next period of ordinary sessions that begins on September 1.
The first bill was approved with 17 votes in favor in the Finance and Public Credit Committee, while in the Second Legislative Studies Committee it received 8 votes in favor. There were no votes against. It proposes to include digital documents governed by electronic commerce, as well as electronic signatures, as acts and transactions governed by debt instruments.
Senator Alejandro Armenta Mier (Morena – ruling party) indicated that, in view of the development of Covid-19, electronic commerce has facilitated one of the means to satisfy the needs of goods and services. However, these services require constant updating of regulations in order to have greater legal certainty. In that sense, this bill “will seek to promote that certainty”.
The second bill obtained 18 votes in favor, four against and one abstention. The text defines as payroll credit with delegated collection when, in the contract for the opening of a simple credit or current account, the obligation of the borrower to make the corresponding payments is agreed upon through the issuance by the borrower of a payment order for a person to make the payment to one or more payment sources. The text has already been endorsed by the Senate, so if the Chamber of Deputies approves it, it will be sent to the Executive branch for enactment.