Amendments to the Law on Counteracting Excessive Delays in Commercial Transactions
On December 8, 2022, an amendment to the Law on Prevention of Excessive Delays in Commercial Transactions came into effect.
The current regulations have been clarified and simplified. This will speed up ongoing proceedings and eliminate blockages more quickly and efficiently.
The President of the Office of Competition and Consumer Protection has been given the authority to issue so-called soft summonses to entrepreneurs without having to initiate administrative proceedings. After receiving such a summons, the entrepreneur will be able to provide explanations regarding the diagnosed risk of payment congestion. In addition, he will have the opportunity to improve the payment culture towards his counterparties.
The legislator also decided to change the formula on the basis of which administrative fines will be calculated. At the same time, the amendment introduces the institution of the so-called "penalty mitigation". It consists in taking into account, when calculating administrative fines, both mitigating and aggravating circumstances.