Late Payments

EU Monitoring Report 33 - Fighting Late Payments Directive

21/05/2014

Fighting Late Payments Directive

In this new EU Monitoring report we tackle the sensitive issue of late payments. As you well know, many payments in commercial transactions between businesses or between businesses and public authorities are still made much later than agreed. Such late payments not only affect liquidity and complicate the financial management of companies, they also affect companies’ competitiveness and profitability, e.g. when the company needs to obtain external financing because of the late payment.

The EC directive that was in place since 2001 for fighting late payments (Directive 2000/35/EC) has now been replaced in 27 out of the 28 member states with a new directive adopted in 2011 (Directive 2011/7/EU).

The new directive is now transposed into national law throughout Europe

The new EC directive that is designed for fighting late payments in the EU has already been transposed into national law throughout all member states (except Croatia) , it is there by important for you to find out these new provisions and how they can affect your business.

EPTDA members can read the full analysis in the Members Area. - See more at: Members Area.

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