According to the congresswoman, this action is a bill that deals with the digitalization of checks.

Last april 22, they explained in said Commission that this initiative of an article would be named as Special Law for the Truncation of Checks, which would bring an economic transaction facilitation for the companies that issue this type of payment methods and for the suppliers that receive them.

This Act will consist of the procedure of substituting the original physical check with computer records or electronic images processed through the payment system.

The physical check issued by a supplier or company may be digitalized, through technological tools with the same validity, this may be processed by the payment system.

According to the Banco Central de Reserva (BCR), 3.71 million checks were issued in 2021, equivalent to US$21 million. With the truncation, it will be possible to make the economy more dynamic and increase that figure.

This law to be studied would have legal support, since it would be governed under the Code of Commerce, the Organic Law of the BCR, the Law of Cooperative Banks and Savings and Credit Societies, and the Law of Banks.