Prompt Payment initiative to reduce payment terms for Mexican SMEs
The Prompt Payment initiative to shorten payment terms of invoices to Mexican SMEs from 120 to 45 days was approved last week by the Commission on Economy, Commerce and Competitiveness of the Chamber of Deputies. The initiative, which was launched by the Mexican Ministry of Economy earlier this year, implements a reform of article 38 of the Commercial Code, under which the current invoice payment period is 120 days.
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Posted on Oct 24, 2022 Region: Mexico
SME finance Prompt Payment initiative, MSME finance, invoice finance, Drip Capital, ASEM, Edmundo Montaño
