Yes, there is special legislation regarding payment terms in order to mitigate the negative consequences of the COVID 19 pandemic for consumers and businesses.
According to this law, consumers and small businesses (i.e. with less than ten employees and up to EUR 2 million annual turnover) are entitled to temporarily refuse fulfilling certain continuing contractual obligations until 30 June 2020 (e.g. monthly payments) if (i) the contract was concluded before 8 March 2020 and (ii) the fulfilment of the obligation would endanger the economic basis or the livelihood of the respective consumer or small business due to the COVID-19 pandemic. This means that if the conditions are met, the debtor will not be in default until 30 June 2020 if the debtor does not fulfil its payment obligations.
There is additional legislation regarding the suspension of payment obligations of monthly rent for consumers and businesses, which applies to all businesses (regardless of the number of employees and annual turnover). For details, please see information of our CMS Real Estate Group.