From Tuesday 26 January, SMEs can report anonymously to the Authority for Consumers & Markets (ACM) that large companies are not complying with an agreed payment term.

Currently, a maximum legal payment term of sixty days applies, but figures from the Ministry of Economic Affairs show that large companies are increasingly paying bills later instead of earlier.

ACM defines large corporations as companies with assets that together are worth more than 20 million euros, have an annual turnover of at least 40 million euros and employ more than 250 employees.

If at least two of these conditions are met, this constitutes a large company.

The Overdue Payments Reporting Center should help the ministry to gain insight into how often these large companies exceed payment terms.

The ministry determines on the basis of the results whether it will institute independent supervision.

SMEs can report large companies that are in violation for a year.

"It is often difficult for smaller entrepreneurs to enforce compliance with agreed payment terms themselves. With this reporting point, we are taking a first step towards independent supervision of compliance with payment terms," ​​said State Secretary Mona Keijzer (Economic Affairs and Climate).

Her ministry is also working on an amendment to the law that will shorten the maximum legal payment term for invoices from SMEs for large companies from sixty to thirty days.