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Colombia

Please see below for a summary of payment terms in Colombia and the various industries across which payment term legislation appears. You can also download a summary of all Colombian payment terms by clicking the button below.
Industries Laws Codes Notes
Construction
Manufacturing
Retail/Agriculture

LAWS

The Payment in Fair Terms in the Commercial Field Law 2024 of July 2020 sets a maximum payment term of 45 days for all commercial contracts. There is a one year transition period with a maximum term of 60 days.

  • Construction
  • Manufacturing
  • Retail/Agriculture
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