The European Commission adopted a Report on the implementation of the Late Payment Directive. The Directive puts in place strict measures to protect European companies against late payment in transactions with public authorities and other businesses.
The report shows that, as a result of the Directive, the average payment period in business-to-business transactions in the EU has dropped by more than 10 days since 2013. National authorities have recognised the importance of combating late payment and, where necessary, have adopted additional measures to ensure compliance with the Directive. The Report recommends further actions in particular closer and more consistent monitoring of the evolution of average payment periods based on a common methodology.
More information: http://ec.europa.eu/DocsRoom/documents/18401