EU Directive regarding late payments

  • Issue Briefing Late Payments

    Because many payments in commercial transactions between businesses or between businesses and public authorities are made much later than agreed, the European Commission acknowledged that this is very costly for businesses and adopted Directive 2000/35/EC to combat late payment.

    The Directive was replaced in 2011 by the latest Directive 2011/7/EU, which responded to a real need to switch to a culture of prompt payment.