La nueva regulación del crédito comercial: Una lectura crítica de la Directiva y de la Ley contra la morosidad

The Directive 2000/35 on late payments and the recent Spanish Act of the same name that implements it poses some interest questions about the role of the EC in regulating the market but also others on the way that is made and the quality of the regulation. We conclude that this regulation was not necessary and it is not justified on the basis of subsidiarity and internal markets grounds. The new regulation severely reduces the freedom of the parties to write their contracts in relation with payment conditions. A specific question is analysed in greater detail: Why interest related to payments made using bills of exchange and other securities are exempted from the Directive?