In commercial transactions between companies, the payment term cannot be more than 60 days.
– Companies can agree on a payment period, but now this period cannot exceed 60 calendar days from the date of the invoice (new), except for exceptions to be provided for by royal decree . As a reminder, in the absence of agreement as to this period, it is 30 calendar days from the date of the invoice.
– The creditor and the debtor will no longer be able to contractually set the date of receipt of the invoice for a commercial transaction between companies
Source Simont Braun
Note from the editors: The EU Directive on late payments (Directive 2011/7/EU of 16 February 2011 on combating late payment in commercial transactions), already give businesses the right to claim interest if their invoices are not paid after 30 days, unless specific terms have been agreed. This Directive can be found HERE.
