ICISA Webinars: Understanding the Late Payments Regulation

ICISA webinars are a series of monthly webinars that aim at tackling topics and challenges of the Trade Credit and Surety industries.

These webinars will be organised on the last Tuesday of each month,  and will take about 60 minutes. Speakers of the webinars will be professionals from the industry and stakeholders of the industry offering additional inspiration and fresh ideas to mid-level staff of our membership and (when webinars are open to all) to the informed public around core topics in the industries we represent.

The European Commission recently proposed a new regulation to combat the negative impact of late payments in the EU. The key element of this would be capping payment terms for all European B2B transactions at 30 days and removing the possibility for businesses to negotiate longer terms where this may be beneficial. While late payment is a problem that disproportionately impacts SMEs, ICISA and other industry bodies have highlighted that the loss of contractual freedom and capping payment terms without flexibility could have serious unintended consequences. In this important discussion, we look at the proposals, assess their impact and consider how the legislative process may play out.