On November 14, 2022 The President of Poland has signed an amendment to the Law on Prevention of Excessive Delays in Commercial Transactions of March 8, 2013.
It is noteworthy that a new rule on assignment of receivables has been introduced into the excessive delays law – when a large entrepreneur is a debtor to a micro, small or medium-sized entrepreneur, a contractual provision excluding or limiting the right of such entrepreneurs to assign receivables in overdue transactions will be ineffective.
It should also be mentioned that the aforementioned rule will not apply to commercial contracts concluded with a public entity.
According to the legislator’s intention, the elimination of the contractual limitation on the transfer of receivables and other contractual provisions with the same purpose, i.e. the limitation of the creditor’s rights, for example by requiring the debtor’s consent to the transfer, is expected to improve financial liquidity of companies in the Small and Medium Entrepreneurs sector.
Should you have any questions, please contact:
MARCIN BOROWSKI
Attorney at law
mborowski@cmwlegal.pl