Payment Terms Legislation In Russia
Article 314 of the Civil Code of the Russian Federation requires payment within 7 days of a request where no term exists in contract.
Federal Law 381-FZ, part 7 of article 9 requires retailers to pay for food products with expiration of less than 10 days within 8 working days. Products with a shelf life of 10 to 30 days inclusive are payable no later than 25 days. For food with a shelf life of more than 30 days and alcoholic beverages, the deadline for payment is 40 days.
Federal Law 44-FZ On the contract system in the field of procurement of goods, works, services to meet state and municipal needs article 30, part 8 and 34 part 13.1 require government institutions to pay SMEs within 15 days and other suppliers within 30 days.
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