Latvia Flag

Latvia

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.
Industries Laws Codes Notes
Government
Comm_terms_law
Construction
Manufacturing
Retail_agriculture
Services

LAWS

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).

  • Government
  • Comm_terms_law
  • Construction
  • Manufacturing
  • Retail_agriculture
  • Services
Go to link

The Law on the Prohibition of Unfair Commercial Practices replaces the previous Unfair Retail Trade Practices Prohibition Law and enacts the EU UTP in the supply chain directive (see European Union for details). In addition the comparative size tiers are replaced with simple definitions of agricultural producers, retailers of agricultural goods and buyers with turnover of more than €2m. A maximum payment term for the supply of fresh vegetables and berries, delivered at least three times in one calendar week, is also set at 20 days.

  • Comm_terms_law
  • Retail_agriculture
Go to link

NOTES

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

  • Retail_agriculture

Ready to liberate your cash?

Discover the source of value in your supply chain

Contact our sales team