Payment Terms Legislation In Italy

Legislative Decree 9 November 2012, n. 192, enacts the EU Late Payment Directive (see European Union for details).

Previously article 62 of Law Decree 1/2012 set maximum payment terms for agricultural and food products of 30 days for perishable goods and 60 days for non-perishable goods. Legislative Decree 8 November 2021, n. 198 amended this to fully enact the EU UTP in the supply chain directive, which came into force on 15 December 2021 (see European Union for details).

See European Union for the Directive on Unfair Trading Practices in the Food Supply Chain which was adopted on 30 April 2019.

The default late payment penalty interest is the European Central Bank refinancing rate, set semi-annually, plus 8%.