SMALL BUSINESS ACT - LATE PAYMENT IN COMMERCIAL TRANSACTIONS

As part of its overall efforts to ease the administrative burdens on SMEs through the Small Business Act, the EU is in the process of adopting a directive to recast Directive 2000/35/EC so as to improve the effectiveness and the efficiency of remedies for late payment, through, in particular, the introduction of an entitlement to the recovery of administrative costs and compensation for internal costs incurred due to late payment.


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