Within the framework of European integration, the Ministry of Economy and Innovation has proposed amendments to Law No. 48/2014 “On Late Payments in Contractual and Commercial Obligations”, as amended. The draft law is in line with Article 70 of the Stabilisation and Association Agreement, ensuring full approximation with Directive 2011/7/EU.
📌 New Definition of Enterprise:
“Enterprise” shall mean any form of organization or entity, excluding a public authority, carrying out an independent economic or professional activity, even where such activity is exercised by a single person (such as a sole trader/individual merchant or a self-employed professional).
📌 Expansion of the Concept of the Reference Interest Rate:
In addition to the fixed rate, the reference interest rate for the euro area shall also include “the marginal interest rate
resulting from variable-rate tender procedures for the most recent main refinancing operations of the European Central Bank.”
📌 Regarding Late Payment Interest:
In addition to statutory interest, “late payment interest” shall also include the interest rate agreed upon between the parties.The wording of Articles 6 and 7 has been amended, introducing an objective mechanism for calculating deadlines and regulating the chronological order of actions to be followed in order to benefit from interest payments.
📌 Shorter Deadlines:
Article 16(2) is amended as follows:The court shall issue the enforcement order within 90 calendar days from the date the claim is filed with the court, provided that the debt or procedural elements are not contested.
