Payment Terms Legislation In Montenegro

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Montenegro

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

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

Laws

The Act on Deadlines for Settlement of Monetary Obligations set a default maximum payment term of 30 days. This term can be extended to 60 days, and 90 days if covered by a bank guarantee or bill of exchange.

Comm_terms_law Construction Manufacturing Retail_agriculture Services
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Interest Rate

The default interest rate for late payment of invoices is 8% above the reference rate of the European Central Bank.

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