Legal term for payments in Portugal

Yes, there are specific legal requirements in respect of payment terms that are provided in Decree-Law No. 62/2013, of 10 May 2013, which establishes measures against late payment of commercial transactions and transposes Directive No. 2011/7/EU of the European Parliament and of the Council of 16 February 2011.

Yes. As a general rule, if no contractual payment term has been agreed between the parties, the standard payment term is 30 days following the date of receipt of the goods or performance of the service.

The Parties may agree to a different payment term, that should not exceed 60 days following the date of receipt of the goods or performance of the service, unless expressly provided otherwise for reasonable reasons, which should be assessed on a case by case basis.

There are also mandatory payment terms for certain type of products e.g. food products intended exclusively for human consumption.

The parties may contractually agree to extend payment beyond the standard payment term provided that such extension (i) is justified by the specific circumstances of the transaction and (ii) is not manifestly abusive to the detriment of the creditor. This to be accessed on a case by case basis.

Yes, provided that the PO establishes the terms and conditions of the transaction and is accepted by the counterparty, (namely that the PO corresponds to the contract itself.

No.

No legislation has yet been adopted as a consequence of the COVID-19 situation in respect of commercial transactions.