Follow us twitter facebook
Edition: Global
Click here to subscribe toour free weekly newsletter click here
Laws & regulations

Terms of payment in France: consequences of recent regulatory changes

On the occasion of the latest information breakfast organised by the BeautyFULL Club in Paris, Frédéric Manin, lawyer and assistant lecturer, talked about the Law for the modernization of the French economy (August 4, 2008) and how it impacted business to business trade relations, in particular with regard to terms of payment and discriminatory practices.

Frédéric Manin, lawyer at KGA

Frédéric Manin, lawyer at KGA

As far as business to business trade relations are concerned, the shortening of settlement periods is, together with the end of slotting fees, the most important innovation of the recent Law for the modernization of the French economy. “For the first time, a law aims to shorten settlement periods, which used to be very long in France,Frédéric Manin said.

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.

latest news

MakeUp in Paris: The countdown has started before the 2020 edition

The next edition of the BtoB trade show dedicated to the make-up and skincare value chain will be held on June 18th and 19th at the Carrousel du Louvre. Once again, MakeUp in Paris will gather key suppliers of packaging, formulation and full-service solutions for the make-up and skincare markets. The event will feature: latest (...)

read more
job opportunities
Experts’ views
On center stage, the floral bouquet is making its come back

Émilie Coppermann
On center stage, the floral bouquet is making its come back

Just like fashion that is eternally being reinvented, perfumery also works in cycles. And the floral accord is no exception. The very essence of femininity, today floral fragrances are less invasive than in the 1980s, as was the case with Poison by Christian Dior. At the end of the 1990s, floral accords were replaced by clean musky (...)

read more


We use cookies to give you a better browsing experience. By continuing your visit to this site, you accept the use of cookies. Read more and set cookies