Please see below for a summary of payment terms in Latvia and the various industries across which payment term legislation appears. You can also download a summary of all Latvian payment terms by clicking the button below.
Please click here to view payment terms for the European Union.
Section IV of Chapter Two of Chapter Three of Part Four of the Civil Law – Delay in Contracts for Supply, Purchase of Goods or Provision of Services – enacts the EU Late Payment Directive (see European Union for details).
The Unfair Retail Trade Practices Prohibition Law sets a maximum payment term for the supply of fresh vegetables and fruit at 20 days, on the condition that these goods are supplied to the same retailer more than three times in one calendar week. If a retailer violates this provision, a fine of up to 0.2% of the net turnover is applied.