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Payment Terms Legislation In New Zealand
New Zealand
Please see below for a summary of payment terms in New Zealand and the various industries across which payment term legislation appears. You can also download a summary of all New Zealand payment terms by clicking the button below.
| Industries | Laws | Codes | Notes | Interest Rate |
|---|---|---|---|---|
| Government | ||||
| Comm_terms_law | ||||
| Construction | ||||
| Manufacturing | ||||
| Retail_agriculture | ||||
| Services |
LAWS
New Zealand is in the process of passing the Business Payment Practice Bill which will require companies with annual turnover of more than $33 million to report on their payment practices every six months.
- Comm_terms_law
NOTES
The New Zealand government has asked for submission for a discussion paper on improving business to business payment practices, and may in the future introduce new laws limiting government and commercial payment terms.
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