engleski

Legal Harmonisation of Croatian Law with EU Combating Late Payment Regulations

The payment of contractual obligations from commercial transactions after due date substantially breaks business effectiveness, leads to difficulties in the cash flow and decreases business profitability and competitiveness. The objective of reducing late payment in the EU cannot be achieved by the Member states acting individually and can be better achieved by the EU as a whole. The author analyses the EU directice combating late payment in commercial transactions and establishes the necessity of legal harmonisation of Croatian law. Instruments on combating late payment that have been established in the Directive aleady exist in Croatian law. The author concludes that legal harmonisation of Croatian law with the EU directive 2000/35/EC will be decline in relation to some instruments. Late interests, as a central instrument for deceasing late payment in commercial transactions, will be less important instrument for creditors after harmonisation of Croatian law with this directive. The author concludes that harmonisation with this directive will not decrease late payment problem in Croatia.

late payment; late interest; the retention of title; directive 2000/35/EC

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