A new draft law approved by the Government of the Republic of Moldova and submitted to Parliament introduces measures to combat delays in payment obligations between professionals and between professionals and public authorities. This initiative aligns with Directive 2011/7/EU of the European Parliament on combating late payments in commercial transactions and aims to strengthen financial discipline and protect creditors.
Key Objectives of the Draft Law:
🔹 Strict payment deadlines – setting a maximum 60-day payment term for transactions between professionals and 30-day payment term for payments by public authorities.
🔹 Late payment interest – creditors will be entitled to claim legal interest and compensation for collection costs in case of delayed payments.
🔹 Protection against abusive contract clauses – any clause that eliminates the right to late payment interest or minimum compensation will be considered null and void.
🔹 Monitoring and payment transparency – using the MConnect Interoperability Platform for reporting and analyzing payment delays.
🔹 Sanctions for repeated late payments – clear mechanisms to discourage abusive practices.
This legislative initiative is part of Moldova’s efforts to harmonize with EU standards and create a safer and more predictable business environment. The project represents a significant step in protecting creditors, reducing insolvency risks, and enhancing financial discipline, especially for small and medium-sized enterprises (SMEs).
Our law firm closely follows the development of this draft law and provides specialized legal consulting on the new rights and obligations that will arise from its implementation.
📌 Stay informed! We will provide further updates on the adoption and impact of this legislative initiative.
