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Payment Terms Legislation In Ireland

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Ireland

Please see below for a summary of payment terms in Ireland and the various industries across which payment term legislation appears. You can also download a summary of all Irish payment terms by clicking the button below.

Please click here to view payment terms for the European Union.
Industries Laws Codes Notes Interest Rate
Government
Comm_terms_law
Construction
Manufacturing
Retail_agriculture
Services

LAWS

The European Communities (Late Payment in Commercial Transactions) Regulations 2012 enacts the EU Late Payment Directive (see European Union for details). Additionally, in practice government entities target payment within 15 days rather than 30.

  • Construction
  • Manufacturing
  • Retail_agriculture
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The Construction Contracts Act 2013 applies to contracts awarded after 25 July 2016. Main contractors are able to negotiate terms with clients however terms to subcontractors are limited to 30 days, or 15 days for work lasting less than 45 days.

  • Construction
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CODES

The Prompt Payment Code & Prompt Payment Portal launched in March 2015 with the aim of promoting best practice in prompt payment in line with agreed terms or a 30 day maximum.

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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.

  • Retail_agriculture
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Payment Terms Disclaimer

The information contained on this site is for general guidance on matters of interest only. The application and impact of laws can vary widely based on the specific facts involved. Given the changing nature of laws, rules and regulations, the information on this site is provided with the understanding that the authors and publishers are not engaged in rendering legal, accounting, tax, or other professional advice and services. As such, it should not be used as a substitute for consultation with professional accounting, tax, legal or other competent advisers.

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