Practical guide · 2026-09-09
How to collect a promissory note
Promissory notes, bills of exchange, and other negotiable instruments exist to make collection easier. If the paper is properly completed and due, enforcement is usually the path. If it is incomplete or time-barred, another claim may be required.
What the instrument must contain
Negotiable instruments are governed by the Commercial Code. A promissory note must identify the maker, an unconditional promise to pay, the sum, the due date, and the signature. A bill of exchange has its own form. A defect can strip the paper of enforceability.
Keep the original. Enforcement is brought on the instrument. Copies help the study of the file; they do not always support an order to pay.
Enforcement, in short
The claim is filed with the instrument. If the court finds it clear, express, and due, it issues an order to pay. The defendant may pay or raise listed defenses. Precautionary measures (attachment) may lie.
Limitation periods on negotiable instruments are short. Do not let collection lapse. If the paper is no longer good, the underlying transaction may still support a separate action, with different proof.
Mistakes that delay recovery
Suing on a photocopy. Suing on blanks filled incorrectly. Omitting agreed interest. Filing in the wrong court. Treating a note as a mere acknowledgment of debt.
Have the paper reviewed before filing. WhatsApp +57 318 887 7711. Office in Usaquén, Bogotá.
This text is general information, not legal advice on a particular case.
Ronald Valencia
Avenida Calle 127 # 14-54, Oficina 610 A, Usaquén, Bogotá D.C.
WhatsApp 318 887 7711