Antonio Tajani, European Commission Vice President, launched an information campaign across all 27 EU Member States and Croatia, to encourage speedy incorporation of the Late Payment Directive into national law, even before the absolute deadline on 16th March 2013. The Campaign puts particular importance on ensuring that SMEs know the new rights conferred by the directive and how to exercise these rights.

European Commission Vice President Antonio Tajani, Commissioner for Industry and Entrepreneurship, launched in Rome an information campaign across all EU Member States and Croatia, to encourage speedy incorporation of the Late Payment Directive into national law, even before the absolute deadline on 16th March 2013. Directive 2011/7/EU on combating late payment in commercial transactions is the EU’s tool to combat overdue payments. The Campaign puts particular importance on ensuring that SMEs know the new rights conferred by the directive and how to exercise these rights.

The main aim of the information campaign is to raise awareness amongst key European stakeholders, in particular SMEs and public authorities, on the new rights conferred by the Directive; whilst also supporting its early implementation. The campaign also provides a forum for sharing best practices to help SMEs obtain prompt payment.

New rules include that public authorities must pay for the goods and services that they procure within 30 days or, in very exceptional circumstances, within 60 days; also, contractual freedom in businesses commercial transactions: Enterprises should pay their invoices within 60 days, unless they expressly agree otherwise and if it is not grossly unfair to the creditor. Furthermore, enterprises can challenge grossly unfair terms and practices more easily before national courts.