The law provides that the settlement period cannot exceed 45 days from the last day of the month, or 60 calendar days, starting from the date of the invoice. According to Frédéric Manin, this new threshold combines the advantages of transparency and, for the first time, of possible sanction from public authorities. “There are derogatory provisions, but they need a formal agreement within a defined industry, they are submitted to restrictive conditions and can only be temporary,” Mr Manin explained.
Furthermore, no “rebate” can be claimed to compensate shortened payment terms subsequent to this new regulatory framework. Such rebates are admissible only when they are applied as to compensate a real commercial service, not the mere application of the law shortening payment terms.