Act no. 18/2002 of 28 september, at their eleventh additional provision provides for the modification of the royal decree no. 962/2013, 5 december, which creates and regulates the state council for Small and medium-sized enterprises, to include representatives of associations specialized in the area of late payments.

Also at its disposal sixth, provides that the government will establish and regulate the functioning of a state observatory Private late payments, pursuant to royal decree, to monitor the evolution of your payment details and the promotion of good practices in this area.

Through this royal decree will determine the composition, functions and functioning of the state observatory Private late payments, which will be integrated in the state council for Small and medium-sized enterprises.

One of the factors impeding the growth of businesses, particularly smes, it is late payment, understood as a breach of an obligation to pay on time, exceeding the maximum of 60 days to private companies and 30 days in the case of public administrations, as required by law 3/2004 of 29 december, establishing measures to combat late payment in commercial transactions, as amended by act 15/2010, of 5 july, and with the qualifications set out in specific sectoral legislation.

It is therefore necessary to enhance the implementation of the regulation in the fight against commercial defaults and promote transparency and best practices with regard to the payment periods in commercial transactions, thereby promoting a culture responsible in this regard.

To that end, article 9 of act no. 18/2002 of 28 september, which amends article 2 of the law 15/2010, of 5 july, on “ follow-up to the evolution of late payments and the outcome of the law ”, provides that the ministry of industry, commerce and tourism will undertake specific follow-up of developments in terms of payment and late payment in commercial transactions as well as on the results of the practice and effectiveness of this law, with the participation of the multi-sector partnerships. For this purpose, on a yearly basis the State observatory Private late payments, will prepare a report on the status of payment periods which will be presented and approved in the state council for Smes. Subsequently, the government submitted to the Cortes Generales, and it will be posted on the Ministry of Industry and tourism.

In order to carry out this specific follow-up of the evolution of payment periods and the promotion of good practices in this area, it is considered necessary to create the state observatory Private late in the framework of the state council for Smes.

Determine the composition, functions and functioning of the state observatory Private late payments, as set out in the final disposal sixth of the law 18/2002 of 28 september.

The objective of this royal decree is the amendment of the royal decree no. 962/2013, 5 december, which creates and regulates the state council for small and medium-sized enterprises and the regulation within the state observatory of late payment Closed, so that the council includes representatives of associations specialized in the area of late payments, in accordance with the eleventh additional provision of act no. 18/2002 of 28 september.

No other alternatives are considered as the final disposal sixth of the law 18/2002 of 28 september.

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