Some notes on the Portuguese Act on Late Payment in commercial transactions (DL 62/2013, 10.05)

Maria Raquel Guimarães

Keywords

Late payment; interests; Directive 2011/7/EU; DCFR; commercial contracts

Abstract

This paper gives some first reflections on the Portuguese Act on Late Payment in commercial transactions (DL 62/2013, 10.05). After pointing the abysmal differences between payment periods in north and south European countries, the paper focuses on the role assumed both by the legislator and the judge conforming freedom of contract in commercial transactions. The major measures introduced by the new Act are pointed out — as payment schedules and unfair contractual terms — and a special reference is made to the relation existing between the Draft Common Frame of Reference and the Directive 2011/7/EU.