The Government Is Plugging Loopholes to Prevent Large Corporations From Delaying Payments to SMEs, Revising Credit Terms to No More than 30 Days for Agriculture and 45 Days for Trade, Manufacturing, and Services.
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4 Articles
The government is plugging loopholes to prevent large businesses from delaying payments for goods and thus delaying payments to SMEs. They are revising credit terms, limiting payments to agriculture to no more than 30 days, and trade, manufacturing, and services to 45 days.
The Trade Competition Commission has approved a draft announcement revising the credit term guidelines, setting a timeframe for payment of goods and services to SMEs: no more than 30 days for agricultural products and primary processed agricultural products, and no more than 45 days for general trade, manufacturing, and services. This aims to address the problem of large companies delaying payments, which affects their liquidity. (Read original …
The Trade Competition Commission board approved the draft amendment to the Credit Term regulations, closing loopholes in enforcement, increasing the responsibilities of large buyers, and reiterating the payment timeframe for agricultural products at no more than 30 days and for general businesses at 45 days. The post “Supajee” pushes the Trade Competition Commission to close loopholes where large buyers delay payments to SMEs, revising the “cred…
On September 14, Ms. Lalida Periswiwatana, Deputy Spokesperson for the Prime Minister's Office, revealed that:
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