ILO Newsletter 28. März 2013

Real Estate & Construction

Act on Late Payment introduces mandatory rules for rent payments


Parliament recently introduced the Act on Late Payment, implementing the new EU directive on the same topic. The act aims to improve payment behaviour by introducing new due dates and increased interest rates. The act introduces new payment dates for rent agreements, depending on the type of property and parties involved, while taking into account the needs of tenants. 


Dr. Martin Foerster

LL.M. (LONDON) Partner