Home / Publications / COVID-19 pandemic in light of the law on payment...

COVID-19 pandemic in light of the law on payment gridlocks

01/04/2020

On January 1, 2020, provisions of the Act of 19 July 2019 amending certain acts to reduce payment backlogs ("the Law") entered into force, granting, inter alia, the President of the Polish Competition Authority ("President of the UOKiK") the power to impose an administrative financial penalty on business entities with undue delays in accomplishing cash benefits. The amount of this penalty depends, among others, on the value of late payments and the delay period. This amendment was intended to increase the effectiveness of the fight against the so-called payment gridlocks.

Read more

Authors

Portrait ofMałgorzata Urbańska
Małgorzata Urbańska
Partner
Warsaw
Portrait ofAgnieszka Starzyńska
Agnieszka Starzyńska
Counsel
Warsaw
Jan Zarzycki