Payment Terms Legislation In Peru

In June 2022, Law No. 31362 for the payment of MYPE invoices to thirty days was passed in Peru. This sets a maximum payment term of 30 days to micro and small businesses. A longer term may be agreed in contract as long as it is not considered abusive. A transitional maximum term of 60 days applied until the end of 2022.

In the absence of any other agreement in contract, the default interest rate for late payments in commercial transactions is the rate for operations between people outside the financial system set by the Central Reserve Bank of Peru.