New legal deadline for paying invoices could affect your working capital.
The situation up until 1 February 2022
The legal deadline for paying an invoice was 90 days, but a customer and supplier could always agree on a new one. The deadline, therefore, could quite easily differ from that stipulated by law.
The situation since 1 February 2022
The legal deadline for paying an invoice is now 60 instead of 90 days. The government has introduced this change in order to better protect SMEs from bigger players in the market.
Need to pay more quickly but still keep your cash levels healthy?
If you have to pay invoices more quickly, you may need additional working capital. KBC can help out here with KBC Working Capital Solutions and ensure you keep your working capital healthy.
Your relationship manager will be happy to help.