Payment Terms Legislation In New Zealand

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New Zealand

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

To access the complete international payment terms data, download the international payment terms whitepaper.

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
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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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