Payment Terms Legislation In Colombia

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Colombia

Please scroll down for a summary of payment terms in Colombia and the various industries across which payment term legislation appears.

To access the complete international payment terms data, download the international payment terms whitepaper.

Industries Laws Codes Notes Interest Rate
Government
Comm_terms_law
Construction
Manufacturing
Retail_agriculture
Services

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.

Government Comm_terms_law Construction Manufacturing Retail_agriculture Services
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