late payments – Albanian  Telegraphic  Agency. https://en.ata.gov.al News Agency Fri, 26 Mar 2021 14:10:01 +0000 en-US hourly 1 Late payments in commercial contractual obligations/ Term reduced from 1 year to 60 days https://en.ata.gov.al/2021/03/26/late-payments-in-commercial-contractual-obligations-term-reduced-from-1-year-to-60-days/ https://en.ata.gov.al/2021/03/26/late-payments-in-commercial-contractual-obligations-term-reduced-from-1-year-to-60-days/#respond Fri, 26 Mar 2021 11:28:47 +0000 http://en.ata.gov.al/?p=138716 TIRANA, March 26/ATA/-In order to ensure the proper functioning of the internal market in Albania, promoting the competitiveness of commercial enterprises and in particular, small and medium enterprises, the government has proposed amendments to the law “On late payments in commercial contractual obligations.”

The draft law was submitted to the Parliament and is expected to be reviewed by the parliamentary committees.

The draft law changes the terms of late payments (arrears) in cases of supply of goods or services by commercial enterprises (economic operators) against public authorities for specific cases such as the case of commercial transactions in the field of health, changing the term of payment from 1 year to 60 days.

The Ministry of Health and Social Protection reports that the contractual obligations have been fulfilled to the extent of 98% and the remaining payments have been realized within the year, while the Union of Chambers of Commerce and Industry reports that, no venture has been closed due to late payments and that none of them cut jobs due to late payments. //a.i/

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