EU PROPOSES TIGHTER MANDATORY 30 DAYS PAYMENTS TERMS FOR BUSINESSES
September 22nd, 2023
Businesses and public authorities across the European Union (EU) are facing tougher laws on late payments, with the European Commission proposing a new regulation that would insist on maximum 30-day terms. Under the legislation, if approved by the European Parliament and the EU Council of Ministers, later payments would automatically accrue interest payable to the creditor, at 8% above European Central Bank (ECB) base rates. The laws cover any commercial or business organisation, and are designed to help EU small-and-medium-sized enterprises (SMEs) get paid ...
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