Zagreb Law Review, Vol. 3 No. 2, 2014.
Professional paper
Periods of Settlement of Financial Debts Pursuant to the Financial Operations and Pre-bankruptcy Settlement Act
Tea Hasić
; Juraj Dobrila University in Pula, Faculty of Economics and Tourism "Dr. Mijo Mirković"
Abstract
This paper analyses the provisions of the Financial Operations and Pre-bankruptcy Settlement Act, which, in contracts between enterprises and between an enterprise and a public law entity as the debtor, restricts the autonomy of parties with regard to the stipulated periods of settlement of financial obligations, and which introduces sanctions for not complying with the stated periods. The analysis is conducted in order to establish whether the Act in question, after several amendments, has finally been aligned with Directive 2011/07/EU on combating late payment in commercial transactions. Special emphasis in this paper is placed on default interest for late payment, which, from 30 June 2013, has been regulated both by the Public Obligations Act (POA) and FOPBSA, which is a significant novelty.
Keywords
periods of settlement of financial obligations; Directive 2011/07/EU; traders vs. enterprises; default interest for late payment
Hrčak ID:
129521
URI
Publication date:
24.9.2014.
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