They are tools aimed at SMEs that seek to diversify their sources of funding.
• The deferred paycheck (CPD): it is a payment order whose maturity operates after the date of issue (up to 360 days). The SME obtains financing by writing a term check, which is accepted by the beneficiary (supplier, for example), by being able to negotiate it at competitive rates in the Market, obtaining funds before its maturity.
• Electronic Credit Invoice (FCE): SMEs can negotiate on the Market the invoices they issue against large companies. They receive their funding once they are entered into the computer trading system and are acquired by investors who advance the funds and who will then collect the amount owed by the large company.
• Promissory Notes: it is a promise of payment similar to the CPD in which between the date of issue and the date of payment there must be a minimum of 6 months and a maximum of 36 months. Trading in Securities Markets occurs when a third party buys a promissory note at a discount rate set at the time of its negotiation. In this way, whoever sells the promissory note makes the funds before the payment date. Unlike the CPD, the promissory note can not only be denominated in pesos, but also in dollars.
They must be previously backed by an authorized entity (Mutual Guarantee Company/Guarantee Funds/Financial Institutions), which acts as a guarantor in the event that the drawer cannot afford the payment of this.
