News item | 17-03-2022 | 16:42
The bill to shorten the maximum statutory payment terms from large companies to small and medium-sized companies (SMEs) from 60 to 30 days was passed by the House of Representatives on Tuesday. This halves the current permitted payment term and equates it to that of the government.
SMEs better protected
Small and medium-sized entrepreneurs who supply to large companies indicated in studies that payment is increasingly being made later instead of earlier. It also appeared that the payment term is regularly determined by large companies and in some cases is even extended unilaterally. The latter has become increasingly the case since the corona crisis, which can cause additional problems for smaller entrepreneurs.
SMEs generally have smaller reserves, late payments have a negative impact on the cash position and thus on the viability of SMEs. Shortening the payment term can make all the difference. With this bill passed, SMEs will be better protected.
Report late payments
Small and medium-sized enterprises (SMEs) entrepreneurs can report late payments. This can be done completely anonymously at the temporary Reporting Point Overdue Payments, which the Netherlands Authority for Consumers and Markets (ACM) set up in January 2021. This reporting point will remain open for longer, entrepreneurs can submit their report until January 26, 2023.