Reducing Payment Backlogs – Legal Comparative Remarks in Light of the Legal Solutions Introduced by the Act of July 19, 2019

The increasing phenomenon of delayed payment of obligations prompted the legislator to introduce new regulations in 2019: administrative fines for excessive delays in fulfilling monetary obligations and an act of unfair competition involving the unjustified extension of payment terms for goods or services. The assesment of the new legal solutions from the perspective of securing the interest of the entrepreneur will depend on the goals they want to achieve and the resources and time they are willing to devote to pursuing their claims. An additional aim of the article was to determine which regulation is more likely to reduce payment backlogs. The consequences of late payment can have a deterrent effect when accompanied by swift and effective procedures for debt collection in favor of the creditor, but this objective has not yet been realized.