прописи на енглеском језику

This Law shall govern the deadlines for the settlement of financial liabilities in commercial transactions between the public sector and business entities, between business entities, and/or between the public sector entities, and with a view to preventing untimely settlement of financial liabilities.

Former paras 2 ceased to be valid (see Article 1 of the Law 138/2022-284).

This Law shall regulate recording of electronic invoices and other requests for payments in electronic form in the central register of invoices, which are issued by the creditors in commercial transactions between the public sector and the economic operators, and/or among the public sector operators, in which the public sector operators are debtors, based on data received from the system of electronic invoices.".

 

Provisions of this Law shall not apply to business entities over which bankruptcy proceedings are under way, in accordance with the law governing bankruptcy, and in commercial transactions in which these business entities are debtors.

 Particular terms used in this Law shall have the following meaning:

1) commercial transactions are contractual transactions between the public sector entities and business entities, between business entities, and/or between the public sector entities, relating to delivery of goods, and/or provision of services for a fee, including also construction and investment works, as well as utility services;

2) the public sector is part of the national economy which includes the general level of the state, with respect to the law regulating the budget system, as well as non-financial companies under control of the state (public companies) primarily engaged in commercial activities; 

3) a business subject is a business company and entrepreneur founded in accordance with the law governing business companies, as well as cooperatives and registered agricultural farms, and other legal entities established in accordance with a particular law.

4) a financial liability is the amount of contracted fee for the delivery of goods, or services specified in the contract, invoice or other appropriate request for payment, or in the electronic invoice or other appropriate request for payment in electronic form, including direct acquisition costs;

5) an invoice in terms of this Law is a document which calculates the fee for delivery of goods, or services in commercial transactions;

6) a provisional or final payment is a document by which fees are calculated for completed construction and investment works and in terms of this Law represents an appropriate request for payment;

6a) the electronic invoice shall have the meaning laid down in the law regulating electronic invoicing;

            7) an outstanding financial liability is a monetary liability of the public sector, or business entities, which has not been paid to a creditor within the contracted or legally defined deadline, where a contract does not so stipulate, or in the event a written contract has not been concluded.

            8) interest for outstanding financial liabilities includes interest for a financial liability which has not been paid within the contracted or legally defined deadlines in the amount determined by the law governing default interest;

9) ceased to be valid (see Article 23 of the Law - 44/2021-4 and Article 4 of the Law - 129/2021-119)

10) the system of electronic invoices shall have the meaning laid down in the law regulating electronic invoicing;

 

11) the Central Register of Invoices, which is established and maintained by the Ministry of Finance - Treasury Administration, shall serve solely for the recording of electronic invoices issued by the creditors in commercial transactions between the public sector and economic operators, i.e. between the public sector operators, in which the public sector operators are debtors, upon establishment of technical and technological conditions, and mandatorily as of 1 May 2022, on the basis of the data received from the system of electronic invoices.

 A contract between business entities may not determine a deadline for the settlement of financial liabilities exceeding 60 days.

If a contract between business entities under paragraph 1 of this Article does not stipulate a deadline for the settlement of financial liabilities or if there is no written contract, the debtor is obliged to settle the monetary liability within a term of 60 days without prior notice.

The deadline for the settlement of financial liabilities from paragraphs 1, 2 and 5 of this Article shall commence the day after:

1) the day when the debtor received the invoice, or any other request for payment issued by the creditor who has fulfilled his contractual obligation; or

2) the day when the creditor fulfilled his contractual obligation, if it is not possible to determine the day of receipt of the invoice or other appropriate request for payment, or if the debtor has received the invoice or other appropriate request for payment, prior to the creditor having fulfilled his contractual obligation; or

3) the date of expiration for review of the subject of the liability, if a contract or law stipulates deadline for such a review, and the debtor has received an invoice or other appropriate request for payment before the expiry of that period, pursuant to a contract. The deadline for the review of the subject of the liability may not exceed 30 days from the date of receipt of the goods or services, except, if in extremely justifiable circumstances a longer payment term has not been negotiated;

4) the date of issuing of an electronic invoice through the system of electronic invoices, when the debtor is considered to have received the electronic invoice by the creditor who has fulfilled his contractual obligation.

If the delivery of an electronic invoice is made on the day on which the public sector operator does not work, the electronic invoice shall be considered delivered on the first following business day.

 Notwithstanding paragraph 1 of this Article, a contract between business entities may stipulate a payment term exceeding 60 days if the contractual obligations require payment in instalments for goods, or services delivered, this deadline may not exceed 90 days.

If business entities have contracted the deadline under paragraph 4 of this Article, at least 50% of the financial liabilities must be settled prior to half of the contracted deadline having expired, while the remaining part of the financial liability must be settled before the expiration of that period. 

Notwithstanding paragraph 1 of this Article, a contract between business entities may stipulate a time limit exceeding 60 days, with an obligation that the debtor, i.e.  the recipient of delivered goods, i.e. provided services, ensure payment within the stipulated period by submitting to the creditor bank guarantee, which contains clauses: "irrevocable", "unconditional", "payable on first demand without objection" or avals by the bank as a form of security for collection of debt.

Notwithstanding paragraphs 1, 2 and 5 of this Article, a contract between a registered agricultural farm or agricultural cooperative, and another business entity, when the debtor is a registered agricultural farm or agricultural cooperative, a longer deadline may be stipulated in cases of procurement of raw materials for performing basic activities and for seeds and planting material, pesticides and fertilizers.