Contracting Parties

The past day, July 7, 2010 came into force the Act 15/2010 of 5 July, amending Act 3/2004, of 29 December, establishing measures of combating late payments in commercial transactions. This law is based on the modification of payment deadlines in commercial transactions by imposing a series of deadlines for payment assessed, no longer fitting Covenant in contrary. Not only in transactions between commercial entities private but also in terms of contracting with public administrations, even modifying the claim for these unpaid. Although the entry into force of this Act has occurred on July 7, 2010, the reduction of payment deadlines will be progressively implementing a series of calendars as appropriate until they are established definitively on 1 January 2013. First we have to discuss this law expressed that you for the calculation of the time limits of payment, all days of the year, and that those agreements that exclude holiday periods shall be NULL must be taken into account.

The determination of the period of payment is a fact ascertainable by the will of the parties, since this law establishes as a general rule not later than 60 days may not be extended by any agreement between such Contracting Parties. As we have previously entered, this term of payment of 60 days will not be imposed immediately, but it will produce its effects from the January 1, 2013, because until then payment deadlines should be respected according to the following timetable: since the entry into force of this Act on July 7, 2011 until December 31, 2011the term of payment is 85 days. From January 1, 2012 to December 31, 2012, will be 75 days. And from January 1, 2013, sets the abovementioned time-limit of 60 days. We must bear in mind that even in the case that has been contractually established a period of acceptance or verification of goods and services, and on the assumption that the debtor receives the invoice before the said period is completed, the payment period shall be calculated from the receipt of goods or services and not exceeding 60 days after that date.