The due date according to the amendment of the Commercial Code

On 1^st of July 2013 an amendment of Commercial Code (Act No. 179/2013 Coll.) which regulates due date of prices for delivery of goods or service provision between businessmen became effective. According to the amendment the contracting parties may agree on due date longer than 60 days only in exceptional circumstances if this longer term is not grossly unfair to the creditor.

If the due date is not agreed, the debtor shall be obliged to pay the price for delivery of goods or service provision within 30 days of delivery of invoice. This maturity of 30 days also applies if delivery of invoice cannot be determinated or if an invoice is delivered before delivery of goods or service provision; in such a case the period of 30 days runs from the delivery of goods or service provision. The period of 30 days also applies if a procedure of acceptance or verification is provided for by statute or in the contract and if the debtor receives the invoice earlier or on the date on which such acceptance or verification takes place. In such a case the time of acceptance or verification may be agreed for period longer than 30 days only in exceptional circumstances when this longer term is not grossly unfair to the creditor.