Clear Criticism of the Proposed Late Payment Regulation

In light of the proposed regulation to combat late payments in commercial transactions, we, along with eight other well-known German associations, have expressed our concerns about the regulation in a letter to the members of the Committee on the Internal Market and Consumer Protection (IMCO) in the European Parliament.

We are critical regarding the proposal as it is impractical in many respects. We are particularly critical of the one-size-fits-all approach of the regulation, the impending restriction of contractual freedom with regard to payment terms, and the increasing bureaucratic burdens. The proposed draft regulation could thus impair the flexibility and competitiveness of companies.