Payment Terms Legislation In Estonia

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Estonia

Please scroll down for a summary of payment terms in Estonia and the various industries across which payment term legislation appears.

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Industries Laws Codes Notes Interest Rate
Government
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Construction
Manufacturing
Retail_agriculture
Services

Laws

Section 82-1 of the Estonian Law of Obligations Act enacts the EU Late Payment Directive. (see European Union for details)

Government Comm_terms_law Construction Manufacturing Retail_agriculture Services
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The Law on the Prevention of Unfair Commercial Practices in the Agricultural Product and Food Supply Chain of 14 September 2021 enacts the EU UTP in the supply chain directive. No specific company size distinctions are made. Section 4 limits payment terms for agricultural goods to 30 days and does not make a distinction between perishable and non-perishable goods (see European Union for details).

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Notes

See European Union for the Directive on Unfair Trading Practices in the Food Supply Chain which was adopted on 30 April 2019.

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Interest Rate

Section 113 of the Estonian Law of Obligations Act provides a default interest for late commercial payments at the European Central Bank refinancing rate, set semi-annually, plus 8%. Both higher and lower interest rates are considered null and void and revert to the default rate.

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