Corporate & Commercial
An invoice for a service provided by a public company was issued with a payment deadline of 30 days from the date of issuing the invoice. Due to current exceptional circumstances, we are or will be in liquidity problems – is it possible to extend the payment deadline due to current exceptional circumstances?
The payment deadline between economic operators is set out in the contract, but it may not be longer than 60 days, or may be longer only exceptionally, if the length of the deadline is agreed in writing and such deadline does not constitute an unfair agreement.
Notwithstanding the foregoing, the new intervention act provides that payment deadlines are 60 days when the creditor is a public authority (which includes majority state-owned legal entities). The 60-day payment deadline remains in effect for one year after the epidemic is declared to be over.
