What Directive 2011/7/EU of the European Parliament and of the Council of 16 February 2011 on combating late payment in commercial transactions requires
This directive mandates that public authorities pay undisputed invoices within 30 days and private sector businesses within 60 days unless otherwise agreed in writing, requires statutory interest at 8 percentage points above the European Central Bank's reference rate for late payments, and grants creditors the right to claim a minimum fixed compensation of €40 and reasonable recovery costs. Key obligations are established under Article 4 (payment terms), Article 5 (interest), and Article 6 (compensation).
Pillar: Operations & CX · Authority: European Parliament and Council of the European Union · Version: 1.0.0 · Last updated:
Primary source: https://eur-lex.europa.eu/legal-content/EN/TXT/?uri=CELEX%3A32011L0007
SHA-256 integrity: 8f8c5c8b3326ab43c58b61142a6e136f1a9ff6bafee1bf6ffc6956d47fd4ffe9
Primary Citations — 5 traced to source
- Directive 2011/7/EU, Article 4 - Payment terms in commercial transactions
- Directive 2011/7/EU, Article 5 - Interest for late payment
+ 3 more citations (full bibliography, deterministic workflow, actionable schema and crosswalks) included in the vault unlock — $0.01 via Skyfire / L402 / Direct Base USDC.
Access
- Discovery (free): /api/v1/nodes/eu-late-payment-directive-2011-7-business-operations.json — 6-field metadata
- Vault (full node): /api/v1/vault/nodes/eu-late-payment-directive-2011-7-business-operations.json — full 13-key payload, $0.01 USDC (L402/Skyfire/Direct Base)
- Canonical URL: https://bidda.com/intelligence/eu-late-payment-directive-2011-7-business-operations
- Back to registry: Browse all 10,090 compliance nodes