Payment Terms Legislation In Norway

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Norway

Please scroll down for a summary of payment terms in Norway 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 Late Payment Interest Act sets a maximum commercial term of 60 days and a default term of 30 days where no term is stated in the contract. For public authorities the maximum term for suppliers is 30 days.

Government Comm_terms_law Construction Manufacturing Retail_agriculture Services
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Interest Rate

Interest on late payments in commercial transactions is set at the Norges Bank monetary policy rate plus a minimum of 8%.

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