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Payment terms

25 Mar 2011

Pursuant to article L. 441-6 of the French Code de commerce (Commercial code):

Unless otherwise specified in the general terms and conditions between a buyer and a supplier of products or provider of services, or otherwise agreed between the parties, payment is due 30 days after the date on which the products were received or the services provided. Shorter payment periods apply for certain activities or products.

The parties may not agree on payment periods which are longer than 45 days end of month or 60 days after the date of invoice.

Penalties for late payment apply automatically.

Failure to comply with certain provisions of article L. 441-6 of the French Code de commerce is punishable by a fine up to €15 000.

Commercial agency agreement (French contract law)
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