EU Excludes Books from Law to Fight Late Payments

Apr 23, 2024

The European Parliament has decided to adopt amendments that will exclude the book sector from the Late Payment Regulation, which will require companies to pay for business-to-business transactions within 30 days. Both the Federation of European Publishers (FEP) and the European & International Booksellers Federation (EIBF) have praised this decision,  acknowledging the unique structure of the book sector and the need for flexible payment terms

The original proposal aimed to introduce a mandatory maximum delay of 30 days for paying invoices in B2B transactions. However, the plenary text recognizes the peculiar position of books as slow-moving goods and cultural products, allowing payment terms within the book sector to be defined by agreement between the concerned parties.

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