direct ec european parliament council june combat late payment commerci transact european parliament council european union regard treati establish european commun articl thereof regard propos commiss regard opinion econom social committe act accord procedur laid articl treati light joint text approv concili committe resolut integr programm favour sme craft sector european parliament urg commiss submit propos deal problem late payment commiss adopt recommend payment period commerci transact resolut commiss recommend payment period commerci transact european parliament call commiss transform recommend propos council direct submit econom social committe adopt opinion commiss green paper public procur european union explor forward june commiss publish action plan singl market underlin late payment repres increasingli obstacl success singl market juli commiss publish report late payment commerci transact summaris result evalu effect commiss recommend heavi administr financi burden busi small medium size result excess payment period late payment problem major insolv threaten surviv busi result numer job loss member state contractu payment period differ significantli commun averag differ payment rule practic member state constitut obstacl proper function intern market effect consider limit commerci transact member state contradict articl treati entrepreneur trade intern market condit ensur transbord oper entail greater risk domest sale distort competit ensu substanti rule appli domest transbord oper recent statist improv late payment member state adopt recommend object combat late payment intern market suffici achiev member state act individu achiev commun direct achiev object direct compli entireti requir principl subsidiar proportion laid articl treati direct limit payment made remuner commerci transact regul transact consum interest connect payment payment law chequ bill exchang payment made compens damag includ payment insur compani fact liber profess cover direct member state treat undertak merchant purpos cover direct direct defin term quot enforc titl quot regul procedur forc execut titl condit forc execut titl stop suspend late payment constitut breach contract made financi attract debtor member state low interest rate late payment slow procedur redress decis shift includ compens creditor cost incur revers trend ensur consequ late payment discourag late payment reason compens recoveri cost consid prejudic nation provis nation judg award creditor addit damag caus debtor late payment take account incur cost compens interest late payment direct take account issu long contractu payment period exist categori contract longer payment period combin restrict freedom contract higher interest rate justifi direct prohibit abus freedom contract disadvantag creditor agreement serv purpos procur debtor addit liquid expens creditor main contractor impos supplier subcontractor term payment justifi ground term grant consid factor constitut abus direct affect nation provis relat contract conclud regul valid contractu term unfair debtor consequ late payment dissuas accompani procedur redress rapid effect creditor conform principl discrimin contain articl treati procedur creditor establish commun desir ensur creditor posit exercis retent titl discriminatori basi commun retent titl claus valid applic nation provis design privat intern law direct regul commerci transact irrespect carri privat public undertak undertak public author regard fact handl consider volum payment busi regul commerci transact main contractor supplier subcontractor articl direct requir recoveri procedur unchalleng claim complet short period time conform nation legisl requir member state adopt specif procedur amend exist legal procedur specif adopt direct articl scope direct appli payment made remuner commerci transact articl definit purpos direct quot commerci transact quot mean transact undertak undertak public author lead deliveri good provis servic remuner quot public author quot mean contract author entiti defin public procur direct eec eec eec eec quot undertak quot mean organis act independ econom profession activ carri singl person quot late payment quot mean exceed contractu statutori period payment quot retent titl quot mean contractu agreement seller retain titl good question price paid full quot interest rate appli european central bank main refinanc oper quot mean interest rate appli oper case fix rate tender event main refinanc oper conduct variabl rate tender procedur interest rate refer margin interest rate result tender appli case singl rate variabl rate auction quot enforc titl quot mean decis judgment order payment issu court compet author payment payment instal permit creditor claim debtor collect mean forc execut includ decis judgment order payment provision enforc remain debtor appeal articl interest case late payment member state ensur interest accord point payabl dai date end period payment fix contract date period payment fix contract interest payabl automat necess remind dai date receipt debtor invoic equival request payment ii date receipt invoic equival request payment uncertain dai date receipt good servic iii debtor receiv invoic equival request payment earlier good servic dai receipt good servic iv procedur accept verif conform good servic contract ascertain provid statut contract debtor receiv invoic equival request payment earlier date accept verif take place dai date creditor entitl interest late payment extent fulfil contractu legal oblig ii receiv amount due time debtor respons delai level interest late payment quot statutori rate quot debtor oblig pai sum interest rate appli european central bank recent main refinanc oper carri calendar dai half year question quot refer rate quot percentag point quot margin quot contract member state particip stage econom monetari union refer rate refer equival rate set nation central bank case refer rate forc calendar dai half year question appli month debtor respons delai creditor entitl claim reason compens debtor relev recoveri cost incur late payment recoveri cost respect principl transpar proportion debt question member state respect principl refer fix maximum amount recoveri cost level debt categori contract defin nation law member state fix period interest payabl maximum dai provid restrain parti contract exceed period fix mandatori interest rate substanti exce statutori rate member state provid agreement date payment consequ late payment line provis paragraph enforc give rise claim damag circumst case includ good commerci practic natur product consid grossli unfair creditor determin agreement grossli unfair creditor inter alia account debtor object reason deviat provis paragraph agreement determin grossli unfair statutori term appli nation court determin condit fair member state ensur interest creditor competitor adequ effect mean exist prevent continu term grossli unfair mean paragraph mean refer paragraph includ provis organis offici recognis legitim interest repres small medium size enterpris action nation law concern court compet administr bodi ground contractu term drawn gener grossli unfair mean paragraph appli effect mean prevent continu term articl retent titl member state provid conform applic nation provis design privat intern law seller retain titl good fulli paid retent titl claus expressli agre buyer seller deliveri good member state adopt retain provis deal payment made debtor articl recoveri procedur unchalleng claim member state ensur enforc titl obtain irrespect amount debt calendar dai lodg creditor action applic court compet author provid debt aspect procedur disput duti carri member state conform respect nation legisl regul administr provis respect nation legisl regul administr provis appli condit creditor establish european commun calendar dai period refer paragraph includ period servic document delai caus creditor period devot correct applic articl prejudic provis brussel convent jurisdict enforc judgment civil commerci matter articl transposit member state bring forc law regul administr provis compli direct august forthwith inform commiss thereof member state adopt measur refer direct accompani refer occas offici public method make refer laid member state member state maintain bring forc provis favour creditor provis compli direct transpos direct member state exclud debt subject insolv proceed institut debtor contract conclud prior august claim interest eur member state commun commiss text main provis nation law adopt field cover direct commiss undertak year august review inter alia statutori rate contractu payment period late payment assess impact commerci transact oper legisl practic result review review made european parliament council accompani propos improv direct articl entri forc direct enter forc dai public offici journal european commun articl addresse direct address member state luxembourg june european parliament presid fontain council presid marqu da costa oj andoj oj opinion european parliament septemb oj council common posit juli oj decis european parliament decemb publish offici journal decis european parliament june decis council oj oj oj oj oj oj oj oj oj consolid version oj