The New Spanish Late Payments Act
47 Pages Posted: 3 Nov 2011 Last revised: 7 Nov 2011
Date Written: October 2011
The Spanish Late Payment Act (Ley 3/2004, de 29 de diciembre, de medidas de lucha contra la morosidad en las operaciones comerciales) has been recently modified by Act 15/2010. The new legal regime imposes mandatory payment terms that have to be observed by the parties engaged in a commercial contract. The paper analyzes the problems derived from the new regulation in contracts between private parties.
Note: Downloadable document is in Spanish.
Keywords: Late Payment, Commercial Contracts in Spain
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