Small and medium business will receive faster payment of contracts under the Law N 223-FZ

24 September 2019, Tuesday

The government approved a resolution on which to pay for contracts concluded with small and medium-sized businesses will have faster. Entrepreneurs will receive money within 15 working days (not 30 calendar days, as now). The term will be reduced for all situations:

the purchase was carried out on a General basis;

only small and medium-sized businesses could participate in it

small and medium-sized businesses acted as subcontractors.

The new rules will work from January 1, 2020 and will apply to purchases started after this date.

Document: RF Government Resolution from 18.09.2019 N 1205 (effective for 01.01.2020)