• Bills of exchange are now also available in digital format
• An electronic bill of exchange may exclusively be a promissory note with the “without protest” clause
• An electronic bill of exchange does not circulate outside the register, and its existence is evidenced by its entry in CReM
• Electronic bills of exchange are used through banks via electronic and mobile banking
• Collection of an electronic bill of exchange is carried out through CReM

As of December 1, 2025, the National Bank of Serbia enabled the issuance and use of bills of exchange in electronic form through the commencement of operations of the Central Register of Electronic Bills of Exchange (CReM). This expanded the existing bill-of-exchange system with a new digital format, while the paper bill of exchange remains fully applicable and continues to exist as an equally valid means of security. The choice between a paper and an electronic bill of exchange remains with the participants in legal transactions.

An electronic bill of exchange is a digitized (dematerialized) security in the form of an electronic record maintained in CReM, within the Register of Bills of Exchange and Authorizations maintained by the National Bank of Serbia. In accordance with the applicable rules, an electronic bill of exchange may exclusively be a promissory note with the “without protest” clause. It does not exist as a physical document on a bill-of-exchange form, but rather as an electronic record created and signed using a qualified electronic signature. All actions and changes relating to an electronic bill of exchange produce legal effect upon their entry in CReM and are recorded through the register.

CReM functions as a single record in which all actions relating to an electronic bill of exchange are carried out:

1. the bill of exchange is issued in the register;
2. it is delivered to/accepted by the creditor;
3. it may be transferred and subsequently submitted for collection; and finally
4. it is deleted upon settlement of the obligation or in other cases prescribed by law.

The key difference compared with a paper bill of exchange is that an electronic bill of exchange does not circulate outside the register—instead of the physical delivery of a document, relevant changes (who the creditor is, whether the bill of exchange has been submitted for collection, its status, etc.) arise and are evidenced by entries in CReM, thereby ensuring a clear and verifiable record of its status at all times.

In practice, electronic bills of exchange are used through banks. Banks are required to make this service available to their clients—legal entities and entrepreneurs—and to technically integrate it into electronic and mobile banking channels. This means that the issuance of a bill of exchange and all subsequent actions are initiated through the banking system, using a qualified electronic signature and appropriate authentication, and are then officially recorded in CReM. The bank provides the technical and organizational framework for access to the register and the performance of actions in accordance with the rules of the National Bank of Serbia.

In order to enable the collection of electronic bills of exchange, the National Bank of Serbia adopted amendments to the Decision on the Manner of Conducting Compulsory Collection from a Client’s Account, aligning the compulsory collection rules with the new form of bill of exchange. When an obligation under an electronic bill of exchange becomes due, the creditor submits, through CReM, a collection order to the bank with which the payer’s current account specified in the bill of exchange is maintained. The order specifies the details of the payer’s bank, the account number, and the amount to be debited. Upon receipt of the order, the bank is required to confirm or reject its receipt through CReM and, prior to execution, verify whether the bill of exchange was submitted within the maturity period and whether the order is formally valid. If all prescribed requirements have been met, the bank carries out the collection in accordance with the rules governing compulsory collection.

In situations where judicial or enforcement protection is required, there is no “paper original”; instead, an official extract from CReM is used, confirming the existence, content, and status of the electronic bill of exchange and serving as evidence in the relevant proceedings.

The introduction of electronic bills of exchange represents a significant modernization of the bill-of-exchange system in the Republic of Serbia, without discontinuing the existing regime. Paper and electronic bills of exchange exist in parallel, while the choice between them remains with the contracting parties, in accordance with their needs and arrangements in the specific business relationship.