Legal payment term large companies reduced to 30 days

What changes?

Do you have large companies among your customers? The legal payment term for such companies to pay their SME suppliers will be reduced to 30 days.

Now large companies may apply a 60-day period as a maximum payment term for their SME clients. The government has to pay within 30 days. This term will also be applicable to large companies.

For whom?

• SMEs that supply goods or services to large companies
• large companies doing business with SMEs

When?

It is expected this change in Book 6 of the Dutch Civil Code (Burgerlijk Wetboek) will come into force on 1 July 2022.

Please note: The effective date of this measure is not yet final. Entry into force is subject to its passing through the upper and lower houses of parliament or proclamation of the Order in Council (Algemene Maatregel van Bestuur, AMvB) or ministerial decree and publication in the Staatsblad or the Staatscourant (in Dutch).