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ARTICLE · 31 JANUARY 2013

Directive Combating Late Payment In Commercial Transactions Implemented In The Netherlands

De Brauw Blackstone Westbroek
De Brauw Blackstone Westbroek
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De Brauw Blackstone Westbroek

De Brauw Blackstone Westbroek

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It was recently confirmed that EU Directive 2011/7/EU on combating late payment in commercial transactions will be implemented in the Netherlands on 16 March 2013.

NetherlandsLitigation, Mediation & Arbitration
Daan Beenders
Daan Beenders
Dennis Horeman
Dennis Horeman
Maarten J Schenck
Maarten J Schenck
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It was recently confirmed that EU Directive 2011/7/EU on combating late payment in commercial transactions will be implemented in the Netherlands on 16 March 2013. Like the Directive, the Dutch implementing act (the "Act") is aimed at discouraging late payment by commercial parties. This legal alert sets out the main changes introduced by the Act.

Payment deadline for transactions between undertakings

The Act will tighten payment deadline provisions for transactions between undertakings. The existing rules that specify when statutory interest starts accruing will remain unchanged, but a new section will be added to Dutch Civil Code limiting the contractual payment deadline. Under this section 6:119a.5 parties may not agree a payment deadline of more than 60 days, unless they clearly specify a longer payment deadline in the contract. This longer deadline may not be grossly unfair towards the creditor, having regard to circumstances such as (a) whether the debtor

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