maksepäevad

Maksepäevad are the calendar dates by which a payment for goods or services must be made under a contract or invoice. They mark when a creditor is entitled to receive money and when a debtor is in default. Maksepäevad help define the timing of monetary obligations in commercial and consumer transactions.

Setting maksepäevad: In practice, maksepäevad are stated in invoices or contract terms as a payment term, for example a number of days after the invoice date or after delivery. If no specific term is agreed, Estonian contract law and general rules about timely performance apply, and in commercial transactions EU rules on late payments may influence default timing. Clear terms reduce ambiguity and disputes.

Default and remedies: When a payment is not made by the maksepäev, the creditor may be entitled to late payment interest and to recover reasonable costs of debt collection, as provided by law and the contract. Depending on the agreement and applicable law, the creditor may also suspend further performance or demand payment before continuing obligations.

Practical considerations: For businesses, including explicit maksepäevad on invoices and in contracts improves cash flow management and reduces disputes. Debtors benefit from knowing exact deadlines and any possible grace periods. Clear communication about changes to payment terms can help maintain working relationships.

See also: Late payment directive (EU), Estonian Law of Obligations Act, invoicing practices, debt collection.