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Post by account_disabled on Mar 5, 2024 7:07:06 GMT
Among other issues, these authorities may impose or initiate procedures for the imposition of fines and other sanctions and precautionary measures on the subjects responsible for the infringement, in addition to carrying out on-site inspections without prior notice within the framework of their investigations and requiring the debtor to put an end to the infringement. For Cañete, sanctions are “essential” to reduce payment terms. As the PMcM has been claiming since its creation, “a sanctioning regime is the only way to definitively put an end to late payment.” Antoni Cañete, president of Pymec and the Pcmc, in a speech before the European Economic and Social Committee. (Photo: Pymec) Furthermore, Member States shall determine the Fax Lists sanctions regime applicable to infringements of this Regulation and shall take all necessary measures to ensure its application. In this regard, Antoni Cañete hopes that it will be in line with the EU decision, that they will be “ effective, proportionate and dissuasive sanctions ”, as described in the Regulation. Another of the most notable points of the new Regulation is related to compensation for recovery costs. When late payment interest accrues, the debtor must automatically pay the creditor a flat-rate compensation for collection costs, which will amount to a fixed amount of 50 euros for each commercial transaction. “This proposal puts an end to the excessive injustice that occurred when the creditor himself had to bear the late payment interest generated by the delay in payment by the debtor,” says Cañete.
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