Payment Terms Legislation In Sweden

The Interest Rate Law SFS 1975:635 and Act on Contract Terms Between Traders SFS 1984:292 enacts the EU Late Payment Directive (See European Union for details). Additionally Sweden has a stricter maximum term of 30 days unless expressly agreed by both parties and not unfair.

Act (2021: 579) on the prohibition of unfair trading methods in the purchase of agricultural and food products enacts the EU UTP in the supply chain directive (see European Union for details). In addition the maximum payment term on all food products is 30 days. Instead of five size ratio tiers a single definition of applicable supplier is made based on the Annex to the Commission Recommendation 2003 / 361 / EC of 6 May 2003 on the definition of micro, small and medium-sized enterprises.

The Association for Efficient Business Transactions promotes a code of conduct for fair payment of smaller companies within 30 days.

See European Union for the Directive on Unfair Trading Practices in the Food Supply Chain which was adopted on 30 April 2019.

Penalty interest is calculated at the Riksbank main refinancing rate, set every six months and rounded to the nearest half percentage point, plus 8%.