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Banking & Financial Services

23 June 2020
Johannes A Bürgi Legal aspects of receivables embodied in bills of exchange

Switzerland - Walder Wyss

Bills of exchange are subject to strict regulations governing their formal and substantive aspects. However, the position of the beneficiary of a bill of exchange is much stronger than the legal position of the contractual assignee of a receivable not embodied in such an instrument. Thus, from a Swiss perspective, it is worthwhile considering a draft purchase structure, particularly in case of a high value of the single receivables that will be subject to the transaction.

Authors: Johannes A Bürgi, Elisabeth Moskric
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