Despite some improvements during the past years, late payments in commercial transactions between companies or between businesses and public authorities still happen in the EU. This hampers the development of business and is even responsible for bankruptcies of otherwise viable companies, notably if they are Small- or Medium-Sized Enterprises (SMEs). Unfortunately up to now the payment culture of public authorities is not always applaudable. Given the current crisis, several Member States have therefore started to address this issue at national level.
