New reporting point for faster payments from large companies to SMEs

The Netherlands Authority for Consumers & Markets (ACM) has opened the Late Payments Reporting Point. SMEs can use the reporting point to report if a large company does not pay within the agreed payment term.

By setting up this reporting point, the government hopes to better map out how often the agreed payment terms are not met. This action is being taken by State Secretary Mona Keijzer (Economic Affairs and Climate) because there are increasing voices from SMEs that invoices are being paid later and later.

Behind the scenes, work is underway on a change in the law to shorten the maximum legal payment term of large companies to SMEs. Previously, a large company was allowed to do this for 60 days, but in the future this must be shortened to 30 days.

The ACM will collect reports for at least one year, after which the Ministry of Economic Affairs and Climate will evaluate the results to determine whether independent supervision is required in addition to the amendment to the law.

Want to report an overdue payment? You can do this by online form to be completed on the ACM website.