The European Commission has asked four member states (Greece, Italy, Slovakia and Spain) to comply with European rules aiming to limit late payments.
The directive (2011/7) on late payments reinforces the rights of creditors by setting in place a maximum payment term (30 days or 60 days under exceptional circumstances) for companies that have won public procurement tenders (see EUROPE 10240).
The Commission is asking these member states to modify their national legislation for the following...