In the mid 70s, the swedish government first started to combat this problem with new legislation. Use the calculator to work out interest owed on the bppc website. P art ii c ontract terms relating to late payment of qualifying debts 7. Should i take court action? Belgian companies were recorded to have the worst average payment performance, with debts being paid 18.

A remedy for the late payment of the debt shall be regarded as a substantial remedy unless. Debt recovery costs and unfair contract terms. Million companies across six european countries, has clearly illustrated the need for a european ruling to help reduce the incidence of late payment. If it is financially advantageous to pay on time, the level of late payment drops. Days beyond the agreed due date.