The EDRA Brussels office works on numerous top priorities for our members. These include
Payment Terms
The EU Commission recently published a proposal for a Regulation on payment terms that removes the ability for companies to agree payment terms beyond 30 days.
We are very concerned that this proposal will severely affect the established practices of retailers and wholesalers who rely on negotiating payment terms that offer advantages to all parties, particularly for products that sell over longer periods or seasonal products.
In a value chain, being able to freely negotiate payment terms is crucial. Retailers and wholesalers have to order goods months in advance before selling them and agree payment terms with their suppliers to remain competitive.
By imposing a strict term of 30 days, the proposed Regulation will deprive businesses of the flexibility to enter into mutually beneficial arrangements.
EDRA recently held a discussion with members on the EU Late Payments Regulation and the EDRA Campaign Plan for 2023-24 which can be viewed by clicking on the link below, which is password protected:
The EU Late Payments Regulation and the EDRA Campaign Plan for 2023-24 - First Meeting