Payment default

Definizione

Payment default arises when a debtor fails to pay a due monetary obligation and is in legal default (verzuim). Default may occur automatically once a fixed payment term lapses, or after a notice of default setting a final deadline. From the moment of default the creditor may claim statutory interest and, ultimately, collection costs and termination.

Esempio

Because the contract set a firm payment date, the buyer was automatically in default the day after that date passed without payment.

Perché rappresenta un rischio aziendale

Payment default across a portfolio of contracts can erode cash flow significantly before any individual case is escalated. The longer default goes undetected, the harder it is to recover accrued interest and collection costs, and the weaker the evidence base becomes for any later claim. Persistent late payers who are not chased on time gain an informal credit extension at the creditor's expense.

Come gestirlo

• Track payment due dates for every contract in a single system so overdue invoices are flagged promptly.
• Check whether the contract contains a fixed payment date (automatic default) or requires a notice of default before interest runs.
• Send a notice of default promptly where required, setting a clear and reasonable cure deadline.
• Document every step of the collection process in writing, as this record is essential if you later claim statutory interest, collection costs or termination.
• Decide early whether the counterparty is unable or unwilling to pay, since the remedies and commercial response differ.

Riferimenti normativi

• BW 6:81 Dutch Civil Code: default and notice of default Diritto olandese
• BW 6:83 Dutch Civil Code: default without notice Diritto olandese

Salvo diversa indicazione, i riferimenti riguardano il diritto olandese (Burgerlijk Wetboek, il Codice Civile olandese); gli strumenti UE come il GDPR si applicano in tutta l'UE. Si tratta di informazioni generali, non di consulenza legale. Altre giurisdizioni trattano questi concetti in modo diverso. Verifichi il testo vigente e la propria situazione con un avvocato qualificato.