Payment term to SMEs shortened to 30 days

The bill to reduce the maximum statutory payment period of large companies to small and medium-sized enterprises (SMEs) from 60 to 30 days was adopted by the House of Representatives on 15 March 2022. This will halve the current allowed payment term and make it equal to that of the government.

SMEs better protected

In surveys, small and medium-sized enterprises that deliver to large companies indicated that they are increasingly being paid later instead of earlier. It also turned out that the payment term is regularly determined by large companies and in some cases even unilaterally extended. The latter has become more and more common since the coronas crisis, as a result of which smaller entrepreneurs can get into extra trouble. With this adopted bill, SMEs are better protected. 

Reporting late payments

Entrepreneurs in small and medium-sized enterprises (SMEs) can report late payments. This can be done completely anonymously at the temporary Late Payments Reporting Point, which the Authority Consumer and Market (ACM) set up in January 2021. This contact point will remain open until 26 January 2023, when entrepreneurs can report their overdue payments.

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