Many thanks to those members who completed our Late Payment Survey, which has fed into our submission on the transposition of the Late Payment in Commercial Transaction Directive which you can view here. 

The Irish Government must transpose the revised EU Directive on combating late payments in commercial transactions by 16 March 2013.  The original directive was transposed into Irish law in 2002 and allows firms to automatically levy penalty interest where payments are made in excess of 30 days and where a written contract with other terms does not exist.

For further information on this submission, please contact Avine McNally at Tel: 01-6051633 or e-mail: avine.mcnally@sfa.ie.