Taulia is now part of SAP.
Payment Terms Legislation In Kenya
Kenya
Please see below for a summary of payment terms in Kenya and the various industries across which payment term legislation appears. You can also download a summary of all Kenyan payment terms by clicking the button below.
| Industries | Laws | Codes | Notes | Interest Rate |
|---|---|---|---|---|
| Government | ||||
| Comm_terms_law | ||||
| Construction | ||||
| Manufacturing | ||||
| Retail_agriculture | ||||
| Services |
LAWS
The Prompt Payment Bill 2020 sets a maximum payment term of 90 days for government procurement where there is no contract.
CODES
The Kenya Association of Manufacturers, Association of Kenya Suppliers (AKS) and Retail Trade Association of Kenya (RETRAK) signed the Retail Trade Code of Practice to guide Prompt Payment in the Retail Sector, following the recommendation of the State Department for Trade.
- Retail_agriculture
NOTES
The State Department for Trade has recommended future regulation limiting terms to 7 days for fresh food and 30 to 45 days for other suppliers.
- Retail_agriculture
Setzen Sie das volle Potenzial liquider Mittel frei
Beschleunigen Sie Ihren Cashflow noch heute.
Kontaktieren Sie uns