Bills of Exchange in Enforcement Proceeding

Recent amendments to the Enforcement Procedure and the Interim Protection Act facilitate repayment in enforcement proceedings.

Introduction

Bills of exchange are mostly regulated by the sector specific act of 1946 (based on provisions of three 1930's Geneva conventions). Provisions of other acts (eg, Obligation Code; Obligacijski zakonik) are used secondarily if the Bill of Exchange Act (Zakon o menici) does not contain applicable provisions.

In practice, besides as a credit or payment instrument, the bill of exchange is mainly used as a security instrument. Most likely it will take on an even larger role in commercial practice due to the latest amendments of the Enforcement Procedure and Interim Protection Act (Zakon o spremembah in dopolnitvah Zakona o izvrabi in zavarovanju, Official Gazette no. 51/2010; the ZIZ-H), which entered into force on 15 July 2010.