Newsletter: Payments to Suppliers
Payments to Suppliers
Law 2024 of 2020 establishes that as of January 1, 2021, payments to suppliers must be made within 60 calendar days following receipt of the goods or termination of the provision of services.
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As of January 1, 2022, payments to suppliers must be made within 45 calendar days following receipt of the goods or termination of the provision of services.
In the terms of paragraph 1 of article 3, only companies that are considered as large companies are excepted, which in the terms of article 10 only refers to payment agreements between large companies among themselves.
The foregoing means that payments from large companies to a micro, small or medium-sized company must be made within the following 60 calendar days, taking into account the imperative nature of the law, as established in article 7.
In accordance with the aforementioned articles 7 and 10, any contractual stipulation that modifies or contravenes the term will be ineffective, giving rise to an administrative sanction, compensation for damages and the recognition of default interests, which apply even in the event that they are made. withholdings greater than those that correspond by law, in addition to non-compliance due to non-timely payment.
Finally, we have that article 4 establishes that in the event that the goods or services must be accepted, the acceptance must occur within the term, which will only be suspended in the event of rejection and until the cause is adjusted or remedied; The same applies to the verification of invoices or in the event that additional documentation is required that must be attached by the payer.
