Milieu to support a Study on Building a responsible payment culture in the EU

Late payments in commercial transactions negatively impact on the financial situation and competitiveness of affected businesses (in particular SMEs) and are widely regarded to constitute a serious impediment to economic development. The purpose of this Study is to provide inputs and comprehensive evidence on a series of possible actions aimed at fostering the effectiveness of Directive 2011/7/EU, commonly referred to as the Late Payment Directive. Milieu will lead a task on the role of Alternative Dispute Resolution and Mediation mechanisms in B2B payment disputes and on the existing and potential synergies between public procurement (including e-invoicing) and prompt payment objectives. Economisti Associati, as lead of the Study, will focus on supply chain financing, the role of credit information in alleviating the informational asymmetries that incentivize late payments, the potential role of financial education on credit management in enhancing SMEs’ capabilities, and the possible setting up of an EU observatory on payment delays intended to provide an accurate picture of developments. Nomisma and CRIF further support this Study.