Changes to Belgian law on late payment in commercial transactions to enhance protection of creditors

The Belgian parliament adopted the draft law of 17 July 2013 amending the law of 2 August 2002 on combating late payment in commercial transactions (Late Payment Law), implementing Directive 2011/7/EU of 16 February 2011 on combating late payment in commercial transactions.

The Late Payment Law (i) maintains the statutory payment period of 30 days, (ii) imposes a maximum payment period of 60 days, (iii) increases the statutory interest and (iv) fixes a minimum amount for compensation of reasonable costs.

Most provisions will retroactively enter into force on 16 March 2013…

If you are registered and logged in to the site, click on the link below to read the rest of the Allen & Overy briefing. If not, please register or sign in with your details below.


Analysis from The Lawyer

  • Panel reviews

    Panel reviews 2014: The chosen ones

    Which firms are cutting it in this era of slimline rosters, and who are the GC new brooms making clean sweeps? The Lawyer can reveal all

  • training

    Accutrainee: Revolution postponed

    At the time of its launch Accutrainee was described as a revolutionary change to the training model. Has it proved to be so? Not really.

View more analysis from The Lawyer


One Bishops Square
E1 6AD

Turnover (£m): 1,189.00
No. of lawyers: 2,304
Jurisdiction: UK
No. of offices: 11
No. of qualified lawyers: 273