Cyprus Commercial Law Update: Late Payments in commercial transactions
The Late Payments in Commercial Transactions Law, Law 123(I) of 2012, published on the 27.12.2012, repeals the previous legislation regarding late payments in commercial transactions. The purpose of this new legislation is to give legal effect to Directive 2011/07/EU of the European Parliament and of the Council of 16 February 2011 on combating late payment…