Please see below for a summary of payment terms in Lithuania and the various industries across which payment term legislation appears. You can also download a summary of all Lithuanian payment terms by clicking the button below.
Please click here to view payment terms for the European Union.
Law on the Prevention of Late Payment in Commercial Transactions enacts the EU Late Payment Directive (see European Union for details). Additionally any terms beyond 60 days which are ‘unfair’ as opposed to ‘grossly unfair’ are not acceptable.
Law of the Republic of Lithuania on the Prohibition of Unfair Commercial Practices in the Agricultural and Food Supply Chain updated the previous Law on Settlement for Agricultural Products, enacting the EU UTP in the supply chain directive in Lithuania (see European Union for details).