Recast of EU Late Payments Directive to Ease Cash Flow for Devicemakers

It won’t happen immediately, but EU devicemakers can expect their cash flow problems to ease over the next few years as member states implement a stronger Late Payment Directive. Under the revised directive, public authorities and the private sector must pay suppliers within 30 days; however, a 60-day extension will be allowed in exceptional circumstances. To receive the extension, member states must submit a report to the European Commission, which will assess the impact the extension would have on small- and medium-sized companies. For private transactions, the 60-day deadline is permissible if both parties agree to it.
International Medical Device Regulatory Monitor