New rules on maximum payment terms as of 1 July 2022
As of 1 July 2022 stricter payment terms apply following which the allowed payment term between large companies and SMEs is shortened to 30 days.
Currently, a legislative proposal is pending before the Dutch parliament following which large companies (as debtor) are prohibited to agree upon payment terms of longer than 30 days when entering into commercial contracts with small and medium sized enterprises (SMEs) or independent entrepreneurs (as creditor). The expectation is that the legislative proposal will be adopted soon and that this will have an impact on existing and new to be concluded commercial contracts.
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