Tag Archives: commercial contract payment terms

ILN Today Post

Pay up! – New rules on commercial contract payment terms – deadline 16 March 2013

Introduction

By 16 March of this year, the UK must implement an EU Directive (1) which sets out tighter rules about what payment terms can be agreed between parties to a commercial (or B2B) contract, such as supply of goods or provision of services. This is aimed at tackling the problem for SMEs caused by public sector bodies and other large organisations taking a long time to pay suppliers. More…

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