The European Parliament approves lowering the payment term limit to 30 days

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Currently the law establishes a period of 60 days and Spanish legislation already provides for sanctions for those who fail to comply with it in the transport sector, which has managed to reduce late payments.

Shippers and transport intermediaries will have to pay the carriers within a maximum of 30 days from the moment they carry out the shipment. The plenary session of the European Parliament approved this Tuesday by an overwhelming majority the new European Regulation against late payment. Although it will have to be definitively ratified by the European Parliament that comes out after the European elections this June, it is difficult for it to change the direction of the vote, because it has been approved by 459 votes in favor compared to only 96 against.

Currently, the maximum payment term is 60 days. For more than two years, Spanish legislation has contemplated fines of up to 30,000 euros for delinquent companies in the field of transport. In addition, this Monday the Ministry of Transport announced that the Inspection increased the files on delinquent companies by 1,847% in 2023.

Last March there was a sharp decrease in payment terms, reaching 64 days for the first time

The imposition of fines and the persecution of delinquent companies has reduced payment times in recent years. This can be seen in the permanent Delinquency Observatory prepared monthly by Fenadismer.

Thus, last March there was a sharp decrease in payment terms compared to the previous month. In March it was at 64 days, very close to the maximum legal payment period established by law. Furthermore, in 70% of the cases in which the law is broken it is done in a minor way, that is, it takes between 60 and 90 days to pay.

However, on the opposite side there are 7% of non-compliant companies that still pay after 120 days, although this percentage is lower than what occurred in 2022, of more than 20%.