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Post by account_disabled on Dec 4, 2023 6:07:13 GMT
That conduct business in foreign currencies. This risk becomes particularly important during periods of financial market turmoil due to exchange rate instability not only in foreign markets but also in domestic markets. When the domestic currency weakens relative to the foreign currency in which transactions are settled, domestic companies that settle in foreign currencies suffer losses. In the form of realized and unrealized exchange rate differences. According to Art. Section f the payment period exceeds days the contract can be revoked. The burden of proving that the term is not Job Function Email List grossly unfair will shift to the debtor. This applies where the payment terms set by equivalent entities exceed days. The Office for Competition and Consumer Protection imposes. Financial penalties on unreliable companies. The value of unpaid invoices will be taken into account when determining the amount of the penalty. Debtors who pay late are not penalized because they themselves did not receive the money from the contractor. Legal entities with an annual revenue exceeding €10,000 are obliged to submit an annual report to the Minister of Economy.
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