Payment term (apmaksas termiņš)

A payment term (apmaksas termiņš) is the period or date by which the buyer must pay an invoice. Businesses agree it in the contract; if the contract is silent, the Civil Law puts the debtor in default when it has not paid within 30 days of receiving the invoice.

In contracts for the supply of goods, sales or services where neither party is a public authority, the payment term can be set at up to 60 days. A longer term must be agreed expressly and must not be grossly unfair to the creditor. Where the payer is a public authority, 30 days apply, extendable to 60 days where justified.

Once the term is missed, the seller can claim late payment interest from the next day and EUR 40 of recovery costs without sending a reminder. These rules do not apply to consumers or to individuals who do not run a business.

The buyer has 30 days from receipt to check that the goods or services conform to the contract, unless the parties agreed otherwise.