Payments in Business, European Payment Index
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Piotr Masiukiewicz: Warsaw School of Economic, Poland
Journal of Applied Management and Investments, 2016, vol. 5, issue 3, 166-173
The principal aim of the article was to analyse both economic and legal conditionings of late payments in commercial transactions in Poland. Regarding economic conditionings, the research focused mainly on issues of diversification of enterprises’ receivables’ structure and cycles, payment periods, levels of losses caused by late payments and the reasons of analysed phenomenon. General reasons for delayed payments are: bad ethics of debt payment in a given country, dysfunctional relationships between business partners, lack of legal protection of payments, delayed payments by government, ineffective system of debt recovery, debtors’ bankruptcy. All the data coming from reports by international economic intelligence companies like Intrum Justitia, D&B and Atradius – should be considered a direct base of presented economics. The data proves that the payment credibility of Polish enterprises, estimated with the use of a so-called Payment Index, is low and deteriorating. Legal analysis of late payments in Poland focuses mainly on the Act on late payments in commercial transactions of 2013, based on evolutionary research of proposed regulations designed to protect creditors from adverse effects of payments lags.
Keywords: payment bottlenecks; payment periods; commercial transaction; law (search for similar items in EconPapers)
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Persistent link: https://EconPapers.repec.org/RePEc:ods:journl:v:5:y:2016:i:3:p:166-173
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