”Main provisions of the Directive

Public authorities have to pay for the goods and services that they procure within 30 days or, in very exceptional circumstances, within 60 days.

Enterprises have to pay their invoices within 60 days, unless they expressly agree otherwise and provided it is not grossly unfair.

Automatic entitlement to interest for late payment and €40 minimum as compensation for recovery costs.

Statutory interest of at least 8% above the European Central Bank’s reference rate.

EU countries may continue maintaining or bringing into force laws and regulations which are more favourable to the creditor than the provisions of the Directive.”