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Document 32011L0007
Combating late payment in business dealings
Combating late payment in business dealings
SUMMARY OF:
Directive 2011/7/EU – combating late payment in commercial transactions
SUMMARY
WHAT DOES THIS DIRECTIVE DO?
KEY POINTS
Between October 2012 and November 2014, the Commission organised a late payment information campaign across the EU to make stakeholders aware of their rights and obligations.
FROM WHEN DOES THE DIRECTIVE ENTER INTO FORCE?
It entered into force on 15 March 2011. EU countries had to incorporate it into their national law by 16 March 2013.
BACKGROUND
For more information, see Late Payment Directive on the European Commission’s website.
KEY TERMS
* Late payment: payment not made within the statutory or contractual period after the goods or services have been supplied.
* Commercial transactions: transactions between businesses or between them and public authorities involving payment for goods and services.
ACT
Directive 2011/7/EU of the European Parliament and of the Council of 16 February 2011 on combating late payment in commercial transactions (OJ L 48, 23.2.2011, pp. 1–10)
last update 11.02.2016